B2Gold: Raymond James Maintains Outperform, Raises PT to $6 from $4.75

B2Gold: Raymond James Maintains Outperform, Raises PT to $6 from $4.75

Raymond James has maintained its "Outperform" rating for B2Gold (BTG) while raising its price target (PT) to $6 from $4.75. The update comes amidst ongoing concerns about the company's permitting issues and recent production milestones.

The analyst firm noted that B2Gold's recent achievements, such as the commencement of commercial production at the Goose Mine in Nunavut, are encouraging. However, the lack of clarity regarding the Fekola permit in Mali and the potential impact on future gold production remain significant concerns B2Gold Corp (BTG)^[1].

Raymond James also highlighted the company's financial health, pointing to its recent sale of a 90-million-royalty stake to Sandbox and VersaMet. This transaction is expected to generate substantial cash flow, which could be used to reduce debt or fund future projects .

The analyst firm's PT increase reflects a more optimistic outlook on B2Gold's future prospects, particularly if the company can secure the necessary permits and maintain its production growth. However, the continued uncertainty surrounding the Fekola permit and the potential for further regulatory delays could pose risks to the company's stock performance.