Analyst Actions: B2Gold Target Price Cut by RBC Capital Markets on Weaker 2021 Guidance
11:19 AM EST, 01/21/2021 (MT Newswires) -- RBC Capital Markets on Thursday reiterated its sector-perform rating on the shares of B2Gold (BTO.TO, BTG) but lowered its target price to US$6.50 from US$6.75 after the company reported fourth-quarter and 2020 production results but said it expects lower production this year.
"B2 reported year-end results that were in line with expectations, while guidance was lighter vs. RBCe and the consensus," the investment bank said in a note. "In the short term, various upcoming milestones are expected in 1H (Fekola resource updates, Gramalote FS), also balanced by materially weaker 1H operating results. B2 guidance reinforces an interim transition in place whereby YoY comparables are likely to soften at the cornerstone Fekola mine, and prior high corporate FCF will be reallocated towards project development. Price target decreased to $6.50 (prev. $6.75), reiterate SP."
(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: 6.45, Change: -0.06, Percent Change: -0.84