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

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.

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

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.