B2Gold (BTG) closed the most recent trading day at $4.85, moving -1.62% from the previous trading session. This change lagged the S&P 500's daily loss of 0.29%. On the other hand, the Dow registered a loss of 0.37%, and the technology-centric Nasdaq decreased by 0.34%.
Heading into today, shares of the gold, silver and copper miner had gained 21.73% over the past month, outpacing the Basic Materials sector's gain of 4.35% and the S&P 500's gain of 3.08%.
Analysts and investors alike will be keeping a close eye on the performance of B2Gold in its upcoming earnings disclosure. The company's upcoming EPS is projected at $0.18, signifying a 800.00% increase compared to the same quarter of the previous year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $0.59 per share and a revenue of $3.21 billion, indicating changes of +268.75% and +68.7%, respectively, from the former year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for B2Gold. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.49% higher within the past month. As of now, B2Gold holds a Zacks Rank of #3 (Hold).
Looking at its valuation, B2Gold is holding a Forward P/E ratio of 8.42. For comparison, its industry has an average Forward P/E of 16, which means B2Gold is trading at a discount to the group.
The Mining - Gold industry is part of the Basic Materials sector. This industry, currently bearing a Zacks Industry Rank of 87, finds itself in the top 36% echelons of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
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B2Gold Corp (BTG): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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