BMO Capital Markets on Tuesday maintained its outperform rating on the shares of B2Gold (BTO.TO, BTG) while lowering its price target to C$7.00 from an undisclosed prior level following fourth-quarter production results from the company.
" B2Gold reported Q4/24 production of 186koz, in-line with our estimate (BMOe: 185.6koz koz) but missed consensus estimates (cons: 204.6koz). On an annual basis, BTO produced 804.8koz which met the lower end of revised annual guidance (800-870koz). BTO's 2025 production guide was slightly below our estimates, however costs were significantly higher than expectations. At Goose, the company reaffirmed the timeline to first gold and CapEx estimates of C$1,540M. Lastly, the company reduced its dividend going forward. We lower our target price to $7.00 and maintain our Outperform rating," analyst Brian Quast noted.
(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)
Price: 3.56, Change: -0.05, Percent Change: -1.39
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