Analyst Brian Quast from BMO Capital maintained a Buy rating on B2Gold (BTG – Research Report) and keeping the price target at C$7.00.
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Brian Quast has given his Buy rating due to a combination of factors related to B2Gold’s performance and future prospects. Despite the adjusted earnings per share falling short of expectations, the company’s production levels were in line with prior estimates, reaching the lower end of their revised annual guidance. This suggests a stable production outlook moving forward.
Another factor contributing to the Buy rating is the company’s cost management, as both cash costs and all-in sustaining costs were within guidance ranges. Additionally, the progress on the Goose project is noteworthy, with construction and development on track and within budget, reinforcing confidence in future output. Furthermore, B2Gold’s liquidity position is robust, with significant cash reserves and available credit, positioning the company well to complete the Goose project without needing additional financing. Lastly, progress in the permitting process in Mali indicates potential for future growth, contributing to the positive outlook.
In another report released on February 11, National Bank also maintained a Buy rating on the stock with a C$5.75 price target.