B2Gold (NYSE:BTG) Shares Gap Up – Here’s What Happened

Shares of B2Gold Corp. (NYSE:BTG) gapped up before the market opened on Tuesday . The stock had previously closed at $2.68, but opened at $2.74. B2Gold shares last traded at $2.66, with a volume of 7,121,365 shares traded.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on BTG. CIBC lowered their price objective on shares of B2Gold from $3.70 to $3.30 and set a “neutral” rating on the stock in a research note on Wednesday, January 15th. TD Securities downgraded shares of B2Gold from a “buy” rating to a “hold” rating in a research note on Tuesday, February 4th. Bank of America cut shares of B2Gold from a “buy” rating to an “underperform” rating in a research note on Tuesday, January 14th. Cormark upgraded B2Gold from a “hold” rating to a “moderate buy” rating in a research report on Friday, February 21st. Finally, StockNews.com downgraded B2Gold from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $4.02.

B2Gold Trading Up 0.6 %

The company has a debt-to-equity ratio of 0.07, a current ratio of 1.83 and a quick ratio of 1.08. The firm has a market capitalization of $3.55 billion, a price-to-earnings ratio of -5.59, a P/E/G ratio of 0.33 and a beta of 1.10. The firm’s 50-day simple moving average is $2.53 and its 200 day simple moving average is $2.82.

B2Gold Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, March 7th will be issued a $0.02 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $0.08 dividend on an annualized basis and a yield of 2.97%. B2Gold’s payout ratio is -16.67%.

Institutional Investors Weigh In On B2Gold

A number of institutional investors and hedge funds have recently made changes to their positions in BTG. Old West Investment Management LLC bought a new stake in shares of B2Gold in the third quarter valued at approximately $670,000. FMR LLC boosted its position in B2Gold by 0.7% during the 3rd quarter. FMR LLC now owns 59,489,129 shares of the company’s stock valued at $183,862,000 after acquiring an additional 438,399 shares in the last quarter. Invenomic Capital Management LP purchased a new position in B2Gold during the 3rd quarter valued at about $2,636,000. Geode Capital Management LLC grew its position in B2Gold by 46.7% during the 3rd quarter. Geode Capital Management LLC now owns 2,075,521 shares of the company’s stock valued at $7,544,000 after purchasing an additional 661,107 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its position in B2Gold by 62.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 95,482 shares of the company’s stock valued at $294,000 after acquiring an additional 36,555 shares in the last quarter. Institutional investors and hedge funds own 61.40% of the company’s stock.

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.