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Is B2Gold Corp (NYSE:BTG) the Best High-Dividend Penny Stock to Buy Now?

Fahad Saleem
·2-min read

Dividend stocks are gaining momentum following major technology companies announcing their first-ever dividends this year. Americans are also starting to prefer dividend equities during the current inflation storm and expectations of a higher-for-longer scenario. In this environment affordable stocks that pay high dividends are in the limelight.

We recently covered some of the best high-yield penny dividend stocks to buy according to hedge funds. B2Gold Corp (NYSE:BTG), being a notable name in the mining industry, deserves special attention.

B2Gold Corp (NYSE:BTG)

Number of Hedge Fund Investors: 14

Canadian-based mining company B2Gold Corp (NYSE:BTG) is in the spotlight after B2Gold Corp (NYSE:BTG) posted strong first quarter results earlier this month.  Adjusted EPS in the quarter came in at $0.06, surpassing estimates by $0.01. Revenue fell 2.6% year over year to $461.44 million, still surpassing estimates by $17.67 million.

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Total gold production in the period came in at 225,716 ounces, meeting estimates.

Best High Dividend Penny Stocks
Best High Dividend Penny Stocks

Photo by andres perez on Unsplash

B2Gold Corp's (NYSE:BTG) forward dividend yield came in at about 5.8% as of May 14. B2Gold has a 12-year average analyst price estimate of $4.18, while the stock was trading at around $2.77 as of May 14. This shows that the stock has an upside potential of about 50% from its current levels.

Hedge Fund Sentiment for B2Gold Corp (NYSE:BTG)

Hedge funds also like this dividend-paying penny stock. Out of the 933 hedge funds tracked by Insider Monkey, 14 funds had stakes in B2Gold Corp (NYSE:BTG). The biggest stake in B2Gold Corp (NYSE:BTG) belongs to Jean-Marie Eveillard's First Eagle Investment Management, worth about $35 million. However, unlike Johnson & Johnson (NYSE:JNJ), Procter & Gamble Co (NYSE:PG) and Exxon Mobil Corp (NYSE:XOM), B2Gold is a small company with low hedge fund sentiment.

Is B2Gold Really The Best High-Dividend Penny Stock?

B2Gold is not the best high-dividend penny stock right now according to Insider Monkey's research.

See the 10 best high-dividend penny stocks to buy now that are better than B2Gold by clicking here.

Disclosure: None.