B2Gold (NYSE:BTG) Shares Up 3.4% – Here’s Why

B2Gold Corp. (NYSE:BTG) shot up 3.4% on Tuesday . The stock traded as high as $3.26 and last traded at $3.23. 4,967,753 shares changed hands during mid-day trading, a decline of 72% from the average session volume of 18,029,188 shares. The stock had previously closed at $3.12.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on BTG shares. CIBC increased their target price on B2Gold from $3.30 to $3.60 and gave the company a “neutral” rating in a research note on Thursday, March 20th. Cormark upgraded shares of B2Gold from a “hold” rating to a “moderate buy” rating in a research note on Friday, February 21st. Bank of America downgraded shares of B2Gold from a “buy” rating to an “underperform” rating in a research note on Tuesday, January 14th. Finally, TD Securities downgraded shares of B2Gold from a “buy” rating to a “hold” rating in a research note on Tuesday, February 4th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, B2Gold currently has an average rating of “Hold” and an average target price of $4.12.

B2Gold Stock Performance

The company’s 50-day moving average is $2.68 and its two-hundred day moving average is $2.84. The stock has a market capitalization of $4.07 billion, a P/E ratio of -6.44, a P/E/G ratio of 0.33 and a beta of 1.09. The company has a current ratio of 1.83, a quick ratio of 1.08 and a debt-to-equity ratio of 0.07.

B2Gold Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, March 7th were paid a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date of this dividend was Friday, March 7th. B2Gold’s dividend payout ratio is currently -16.67%.

Hedge Funds Weigh In On B2Gold

Several large investors have recently bought and sold shares of the stock. Cantor Fitzgerald L. P. acquired a new position in shares of B2Gold during the fourth quarter valued at approximately $25,000. Groupama Asset Managment acquired a new stake in B2Gold in the fourth quarter worth approximately $29,000. Schonfeld Strategic Advisors LLC acquired a new position in shares of B2Gold during the 4th quarter valued at $30,000. Signaturefd LLC increased its position in shares of B2Gold by 176.1% during the 4th quarter. Signaturefd LLC now owns 12,935 shares of the company’s stock valued at $32,000 after purchasing an additional 8,250 shares during the period. Finally, Flow Traders U.S. LLC bought a new stake in shares of B2Gold in the 3rd quarter worth $35,000. Institutional investors and hedge funds own 61.40% of the company’s stock.

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.