B2Gold Corp (BTG) Rated as a Buy at BMO Capital

B2Gold Corp. (NYSE:BTG) is one of the best high-return penny stocks to buy now. On July 11, BMO Capital Markets analysts reiterated a ‘Buy’ rating on the stock. The Buy rating is based on the Canadian gold miner’s series of positive updates.

The company has already announced a $740 million investment as it seeks to initiate its Gramalote gold project in Colombia. Once fully operational, the mine is expected to become a significant production asset yielding an average annual output of 177,000 ounces over 13-year mine life. It is also expected to average 227,000 ounces annually.

In addition, B2Gold achieved a significant milestone with the first gold pour at the Goose Mine in Nunavut, Canada. The mine is in the process of ramping up to full production and is poised to become operational, producing between 120,000 and 150,000 ounces of gold per year. Consequently, the company remains well-positioned to capitalize on soaring gold prices as it ramps up production.

B2Gold Corp. (NYSE:BTG) is involved in acquiring mineral properties, exploring, developing, and operating gold mines. The company extracts gold ore, processes it into gold doré bars, and sells them on the global market. It maintains operations in several countries, including Mali, Namibia, and the Philippines.

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Disclosure: None. This article is originally published at Insider Monkey.