B2Gold Corp. received upgraded ratings from two analyst firms on Tuesday. TD Securities raised its rating on the gold producer from "hold" to "strong-buy." ATB Cormark Capital Markets upgraded the stock from a "hold" rating to a "moderate buy."
The upgrades follow B2Gold's recent second-quarter earnings report. The company posted earnings per share of $0.03. This missed the consensus estimate of $0.07. Revenue for the quarter reached $789.35 million. This figure was below the analyst expectation of $836.33 million. The revenue represented a 14% increase year-over-year.
The analyst community maintains a consensus "Buy" rating for B2Gold. The average price target is $6.17. The upgrades from TD Securities and ATB Cormark suggest a positive outlook on the company's future performance despite the recent earnings shortfall.