Globe says Canaccord's MacRury keeps B2Gold at "buy"

2022-01-28 08:24 ET - In the News

The Globe and Mail reports in its Friday edition that Canaccord analyst Carey MacRury trimmed his target for B2Gold to $8 from $8.50 after the miner posted its fourth quarter production results and 2022 guidance update last week. The Globe's David Leeder writes in the Eye On Equities column that Mr. MacRury reaffirmed his "buy" call on B2Gold. Analysts on average target the shares at $7.82. Mr. MacRury says in a note: "Overall, the company had another strong year with its 13th consecutive year of record production. Despite the strong year operationally, B2Gold's shares were down 30 per cent in 2021 largely on geopolitical concerns in Mali, which we view as overdone. For 2022, we believe B2Gold is well positioned for another strong year. ... We view B2Gold as attractively valued at 0.50 times NAV [net asset value], well below the senior average of 0.8 times NAV and B2Gold's average P/NAV multiple of 0.8 times over the past two years." The Globe reported on March 10 that Raymond James analyst Farooq Hamed had reaffirmed his "outperform" call on B2Gold when it could be had for $5.69. The Globe guest columnist Sean Pugliese said on Nov. 25 that B2Gold was a potential outperformer." It was then worth $5.22.

© 2022 Canjex Publishing Ltd. All rights reserved.