In the latest close session, B2Gold (BTG) was up +1.67% at $3.65. The stock outpaced the S&P 500's daily gain of 0.8%. Elsewhere, the Dow saw an upswing of 0.94%, while the tech-heavy Nasdaq appreciated by 0.97%.
Shares of the gold, silver and copper miner witnessed a gain of 3.76% over the previous month, beating the performance of the Basic Materials sector with its gain of 2.02%, and underperforming the S&P 500's gain of 5.12%.
Market participants will be closely following the financial results of B2Gold in its upcoming release. On that day, B2Gold is projected to report earnings of $0.1 per share, which would represent year-over-year growth of 66.67%.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $0.53 per share and a revenue of $2.97 billion, indicating changes of +231.25% and +56.23%, respectively, from the former year.
Investors should also note any recent changes to analyst estimates for B2Gold. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, there's been a 2.69% rise in the Zacks Consensus EPS estimate. As of now, B2Gold holds a Zacks Rank of #3 (Hold).
Investors should also note B2Gold's current valuation metrics, including its Forward P/E ratio of 6.84. This indicates a discount in contrast to its industry's Forward P/E of 12.51.
The Mining - Gold industry is part of the Basic Materials sector. With its current Zacks Industry Rank of 40, this industry ranks in the top 17% of all industries, numbering over 250.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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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