In the latest trading session, B2Gold (BTG) closed at $4.68, marking a +2.41% move from the previous day. This change outpaced the S&P 500's 0.16% gain on the day. Elsewhere, the Dow saw an upswing of 0.17%, while the tech-heavy Nasdaq appreciated by 0.26%.
Heading into today, shares of the gold, silver and copper miner had lost 0.65% over the past month, lagging the Basic Materials sector's gain of 7.63% and the S&P 500's gain of 1.89%.
Market participants will be closely following the financial results of B2Gold in its upcoming release. The company's upcoming EPS is projected at $0.22, signifying a 2,100.00% increase compared to the same quarter of the previous year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $0.54 per share and revenue of $3.12 billion, indicating changes of +237.5% and 0%, respectively, compared to the previous year.
Investors should also take note of any recent adjustments to analyst estimates for B2Gold. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, there's been a 2.52% fall in the Zacks Consensus EPS estimate. B2Gold currently has a Zacks Rank of #4 (Sell).
In the context of valuation, B2Gold is at present trading with a Forward P/E ratio of 6.57. Its industry sports an average Forward P/E of 12.57, so one might conclude that B2Gold is trading at a discount comparatively.
The Mining - Gold industry is part of the Basic Materials sector. With its current Zacks Industry Rank of 81, this industry ranks in the top 34% of all industries, numbering over 250.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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B2Gold Corp (BTG): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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