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Scotiabank raised its rating on B2Gold after the mining company received the Fekola Regional permit, the bank said. The upgraded recommendation followed B2Gold's disclosure that the permit had been granted.
Scotiabank's rationale The bank cited the Fekola Regional permit receipt as the direct basis for lifting its recommendation on B2Gold. B2Gold confirmed the permit had arrived. Scotiabank moved the rating higher.
Scotiabank covers B2Gold among its equity research clients. The bank's decision to upgrade the stock tied the rating directly to a single named development: the receipt of the Fekola Regional permit.
The permit and its significance B2Gold received the Fekola Regional permit and disclosed the development.
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