雅虎香港財經 B2Gold (BTG) Inks Deal With Sandbox to Sell 10 Royalties
B2Gold Corp BTG announced that it signed an agreement to sell a portfolio of 10 precious and base metals royalties to Sandbox Royalties Corp. This move offers B2Gold an opportunity to maximize the value of its royalties, which were not a major element of its business.
In accordance with the deal, Sandbox changed its name to Versamet Royalties Corporation. Versamet will acquire the ownership of the royalties in exchange for 153.2 million common shares at a price of C80 cents per share (US 58 cents). This represents a 33% equity ownership interest in Versamet worth approximately $90 million.
This collaboration will give continued exposure to Versamet's royalty portfolio, which now totals 28 royalties, two of which are now cash-flowing. The other royalties are expected to become cash-flowing in the near future.
The first phase of the transaction closed on Jun 5, 2024, which included royalties for the Kiaka Gold Project, the Toega Gold Deposit, the Primavera Project, and two exploration stage royalties. B2Gold received 122 million Versamet shares valued at approximately $72 million for the first phase closing.
B2Gold is on track to meet its previously announced outlook for 2024. The company expects a total gold production of 860,000-940,000 ounces for 2024, including 40,000-50,000 ounces of attributable production from Calibre. It anticipates total consolidated cash operating costs to be higher in 2024, and between $835 and $895 per gold ounce. The company expects total consolidated all-in sustaining costs of $1,360-$1,420 per gold ounce.
The company reported adjusted earnings per share of 6 cents for first-quarter 2024, beating the Zacks Consensus Estimate of 5 cents. The bottom line fell 10% year over year. B2Gold generated revenues of $461 million in first-quarter 2023 compared with the prior-year quarter’s $474 million.
Price Performance
In the past year, BTG shares have lost 24.3% against the industry’s growth of 14.4%.
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Zacks Rank & Stocks to Consider
B2Gold currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the basic materials space are Carpenter Technology Corporation CRS, Ecolab Inc. ECL and ATI Inc. ATI. CRS sports a Zacks Rank #1 (Strong Buy) at present, and ECL and ATI have a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Carpenter Technology’s 2024 earnings is pegged at $4.18 per share. The consensus estimate for 2024 earnings has moved 6% north in the past 60 days. It has an average trailing four-quarter earnings surprise of 15.1%. CRS shares have gained 134.9% in a year.
The Zacks Consensus Estimate for Ecolab’s 2024 earnings is pegged at $6.59 per share, indicating an increase of 26.5% from the prior year’s reported number. It has an average trailing four-quarter earnings surprise of 1.3%. ECL shares have gained 34.5% in a year.
The Zacks Consensus Estimate for ATI’s 2024 earnings is pegged at $2.41 per share. The Zacks Consensus Estimate for ATI’s current-year earnings has been revised 3% north in the past 60 days. It has an average trailing four-quarter earnings surprise of 8.3%. The company’s shares have rallied 65.9% in the past year.
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Ecolab Inc. (ECL) : Free Stock Analysis Report
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