12 Best Dividend Penny Stocks to Buy According to Hedge Funds

7. B2Gold Corp. (NYSE:BTG)

Stock Price: $2.83

Number of hedge fund holders: 15

Canadian mining company, B2Gold Corp. (NYSE:BTG), specializes in gold production with active mines in Mali, Namibia, and the Philippines. The company has rapidly expanded its portfolio through strategic mergers and acquisitions and established itself as a mid-tier gold producer in the global mining industry. The stock has surged by over 15% in the past 12 months, which makes it one of the best penny stocks on our list.

In Q4 2024, B2Gold Corp. (NYSE:BTG) showcased an optimistic production outlook, despite facing operational challenges. The company was able to keep up its operational resilience by meeting its gold production and revenue targets. The company also declared a dividend of $0.04 per share. Recently,  it has announced an amended shareholder return strategy, launching a new dividend framework and expressing intentions to implement a normal course issuer bid. The strategic move is aimed at enhancing shareholder value and demonstrates the company’s confidence in its financial position.

The gold mining sector has seen some interesting developments and players focusing on optimizing operations and expanding their asset portfolios. B2Gold Corp. (NYSE:BTG) has also followed suit by increasing its investment in Founders Metals, indicating a strategic interest in diversifying and strengthening its asset base.

B2Gold Corp. (NYSE:BTG) has forecasted a promising production outlook for 2025, estimating between 970,000 to 1,075,000 ounces of gold. While the gold mining industry continues to operate dynamically, the company’s focus on operational efficiency, strategic growth, and robust financial management positions it well to navigate challenges and create a competitive edge.

The future outlook looks positive as stock prices reflect a positive trend in the current trading session. The company’s dividend yield stands at 6.04%, considerably higher than the industry average of 1.70%. With a view of its strong commitment to building shareholder value, B2Gold Corp. (NYSE:BTG) has garnered continuous interest from institutional shareholders.