Raymond James lowered the firm’s price target on B2Gold (BTG) to $3.50 from $4 and keeps an Outperform rating on the shares as part of a Q4 earnings preview. The firm says Q4 was the strongest production quarter for the year among a number of mid-tier gold producers. It expects the trend beginning in Q4 of mid-tiers showing better operating performance than the seniors can continue in 2025. Given the expected operating outperformance from mid-tiers in 2025, Raymond James expects the mid-tier gold producers can continue to attract investment due to lagging valuations versus seniors, the analyst tells investors in a research note.
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