B2Gold (TSE:BTO) Cut to “Hold” at Cibc World Mkts

Cibc World Mkts cut shares of B2Gold (TSE:BTO) (NYSE:BTG) from a strong-buy rating to a hold rating in a research note issued to investors on Wednesday morning, Zacks.com reports.

A number of other equities research analysts have also recently issued reports on the stock. BMO Capital Markets dropped their price target on shares of B2Gold from C$6.50 to C$6.00 and set an outperform rating on the stock in a research note on Tuesday, March 19th. Stifel Nicolaus dropped their price target on shares of B2Gold from C$6.50 to C$6.00 in a research note on Friday, April 19th. Canaccord Genuity Group lowered their target price on shares of B2Gold from C$7.50 to C$7.00 and set a buy rating on the stock in a research note on Friday, May 17th. Cormark lifted their target price on shares of B2Gold from C$5.00 to C$5.50 in a research note on Thursday, June 20th. Finally, Eight Capital lowered their target price on shares of B2Gold from C$7.25 to C$7.00 and set a buy rating on the stock in a research note on Monday, April 22nd. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, B2Gold has a consensus rating of Buy and an average price target of C$5.95.

B2Gold Price Performance

TSE:BTO opened at C$4.15 on Wednesday. The company has a debt-to-equity ratio of 1.15, a current ratio of 2.99 and a quick ratio of 3.33. The firm has a market cap of C$5.40 billion, a price-to-earnings ratio of -83.00, a price-to-earnings-growth ratio of -0.27 and a beta of 1.15. The company has a 50 day moving average price of C$3.74 and a 200-day moving average price of C$3.69. B2Gold has a 1-year low of C$3.18 and a 1-year high of C$5.05.

B2Gold (TSE:BTO) (NYSE:BTG) last released its quarterly earnings results on Tuesday, May 7th. The company reported C$0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.07 by C$0.01. B2Gold had a negative net margin of 1.88% and a negative return on equity of 0.33%. The firm had revenue of C$622.09 million for the quarter. Equities research analysts forecast that B2Gold will post 0.3689788 EPS for the current year.

B2Gold Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 24th. Stockholders of record on Monday, June 24th were given a dividend of $0.055 per share. This is a boost from B2Gold’s previous quarterly dividend of $0.05. The ex-dividend date was Tuesday, June 11th. This represents a $0.22 annualized dividend and a dividend yield of 5.30%. B2Gold’s payout ratio is presently -440.00%.

Insider Activity

In other news, Senior Officer Daniel Bruce Moore sold 150,000 shares of the business’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of C$3.88, for a total transaction of C$582,000.00. In related news, Senior Officer Daniel Bruce Moore sold 150,000 shares of the business’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of C$3.88, for a total value of C$582,000.00. Also, Senior Officer Randall Chatwin sold 12,520 shares of the business’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of C$3.72, for a total transaction of C$46,574.40. In the last quarter, insiders have sold 162,575 shares of company stock valued at $628,781. 0.62% of the stock is currently owned by insiders.

About B2Gold

B2Gold Corp. operates as a gold producer company. It operates the Fekola Mine in Mali, the Masbate Mine in the Philippines, and the Otjikoto Mine in Namibia. The company also has an 100% interest in the Gramalote gold project in Colombia; 24% interest in the Calibre Mining Corp.; and approximately 19% interest in BeMetals Corp.