#7 - B2Gold (NYSEAMERICAN:BTG)
At over $2,500 per troy ounce, gold is near a record high, and it’s also been one of the best-performing asset classes in 2024. Many industry analysts believe that the 2024 gold rush is not over. Some even believe that $3,000 is possible. If you don’t invest in physical gold, mining stocks such as B2Gold Corp. (NYSEAMERICAN: BTG) are a good alternative.
The Canadian-based miner has restarted and is expanding operations at its Fekola mine. In addition, the company has developed another project, the Goose Mine. B2Gold is also using aggressive drilling programs as an opportunity to unlock more reserves.
BTG stock is down 12.9% in 2024. However, it’s up about 11% in the month following the company’s earnings report. After a post-earnings sell-off, investors may be deciding that the bull case for gold - and therefore gold miners - still has room to run. Analysts give BTG stock a consensus price target of $3.78, which is a 37% upside as of this writing.
About B2Gold
B2Gold Corp. operates as a gold producer company. It operates the Fekola Mine in Mali, the Masbate Mine in the Philippines, and the Otjikoto Mine in Namibia. The company also has an 100% interest in the Gramalote gold project in Colombia; 24% interest in the Calibre Mining Corp.; and approximately 19% interest in BeMetals Corp.
Read More - Current Price
- $3.33
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 2 Buy Ratings, 2 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $3.78 (13.5% Upside)
Investing in stocks under $5 (which are frequently lumped into the penny stock category) is not without risk. These stocks are often those of companies that are not yet profitable. And, as investors saw during the dot-com era, some may end up going bankrupt.
Even fundamentally sound stocks under $5 are frequent targets of short sellers. The goal is to shake out investors and then buy the shares back at a lower price. Rinse, lather, repeat. Conversely, it's common for penny stocks to be part of a ‘pump and dump' strategy, where a stock's price shoots higher to generate interest, only to have traders sell the stock, leaving many investors holding the bag.
One way to protect yourself is to stay informed of news that could affect your investments. This includes press releases, earnings reports, and analyst ratings. MarketBeat has you covered. Our website is a one-stop resource to keep you in the loop about the stocks you own and those that are on your watchlist.
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