B2Gold (NYSE:BTG) Stock Rating Lowered by Bank of America

B2Gold (NYSE:BTG) was downgraded by investment analysts at Bank of America from a “buy” rating to an “underperform” rating in a research report issued on Tuesday,Briefing.com Automated Import reports.

Several other brokerages also recently commented on BTG. CIBC raised their price objective on shares of B2Gold from $3.30 to $3.60 and gave the stock a “neutral” rating in a research note on Tuesday, September 24th. Cibc World Mkts cut B2Gold from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 24th. StockNews.com downgraded B2Gold from a “buy” rating to a “hold” rating in a report on Friday, November 8th. Royal Bank of Canada reissued a “sector perform” rating and issued a $3.75 price objective on shares of B2Gold in a research note on Tuesday, September 17th. Finally, Jefferies Financial Group lifted their target price on B2Gold from $4.00 to $5.00 and gave the company a “buy” rating in a research note on Friday, October 4th. One analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $4.12.

B2Gold Stock Performance

Shares of NYSE BTG opened at $2.49 on Tuesday. B2Gold has a 52-week low of $2.34 and a 52-week high of $3.50. The stock has a market capitalization of $3.28 billion, a price-to-earnings ratio of -4.45, a PEG ratio of 0.53 and a beta of 1.09. The company has a quick ratio of 1.08, a current ratio of 1.83 and a debt-to-equity ratio of 0.07. The stock’s fifty day simple moving average is $2.69 and its 200 day simple moving average is $2.89.

B2Gold (NYSE:BTG) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.03). B2Gold had a positive return on equity of 7.53% and a negative net margin of 38.42%. The company had revenue of $448.23 million for the quarter, compared to analyst estimates of $449.28 million. During the same quarter in the previous year, the firm posted $0.05 EPS. B2Gold’s quarterly revenue was down 6.2% on a year-over-year basis. As a group, sell-side analysts forecast that B2Gold will post 0.23 earnings per share for the current fiscal year.

Institutional Investors Weigh In On B2Gold

A number of hedge funds and other institutional investors have recently made changes to their positions in BTG. Old West Investment Management LLC acquired a new position in B2Gold in the third quarter worth approximately $670,000. FMR LLC increased its stake in shares of B2Gold by 0.7% during the 3rd quarter. FMR LLC now owns 59,489,129 shares of the company’s stock worth $183,862,000 after purchasing an additional 438,399 shares during the last quarter. Invenomic Capital Management LP bought a new position in shares of B2Gold during the 3rd quarter valued at $2,636,000. Cubist Systematic Strategies LLC lifted its stake in shares of B2Gold by 133.8% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 1,977,354 shares of the company’s stock valued at $5,334,000 after purchasing an additional 1,131,534 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its holdings in B2Gold by 62.0% in the third quarter. BNP Paribas Financial Markets now owns 95,482 shares of the company’s stock worth $294,000 after purchasing an additional 36,555 shares in the last quarter. 61.40% of the stock is owned by hedge funds and other institutional investors.

B2Gold Company Profile

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.