B2Gold (NYSE:BTG) Reaches New 1-Year Low – Here’s What Happened

Shares of B2Gold Corp. (NYSE:BTG) hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $2.34 and last traded at $2.41, with a volume of 7056825 shares traded. The stock had previously closed at $2.49.

Analyst Ratings Changes

BTG has been the topic of several research analyst reports. Cibc World Mkts downgraded B2Gold from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Jefferies Financial Group upped their target price on B2Gold from $4.00 to $5.00 and gave the company a “buy” rating in a research report on Friday, October 4th. StockNews.com lowered shares of B2Gold from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. Bank of America downgraded shares of B2Gold from a “buy” rating to an “underperform” rating in a report on Tuesday. Finally, CIBC reduced their target price on shares of B2Gold from $3.70 to $3.30 and set a “neutral” rating for the company in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $4.02.

B2Gold Trading Down 2.8 %

The firm has a market cap of $3.21 billion, a PE ratio of 12.33, a price-to-earnings-growth ratio of 0.26 and a beta of 1.09. The company has a 50-day simple moving average of $2.66 and a 200 day simple moving average of $2.89. 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 (NYSE:BTG) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $448.23 million for the quarter, compared to analysts’ expectations of $449.28 million. During the same period last year, the company posted $0.05 earnings per share. The business’s quarterly revenue was down 6.2% on a year-over-year basis. As a group, sell-side analysts forecast that B2Gold Corp. will post 0.23 earnings per share for the current fiscal year.

B2Gold Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Monday, December 2nd were issued a $0.04 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $0.16 dividend on an annualized basis and a yield of 6.56%. B2Gold’s payout ratio is -28.57%.

Institutional Investors Weigh In On B2Gold

Institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. lifted its holdings in B2Gold by 525.1% during the third quarter. JPMorgan Chase & Co. now owns 517,575 shares of the company’s stock valued at $1,594,000 after purchasing an additional 434,775 shares in the last quarter. Sanctuary Advisors LLC purchased a new position in B2Gold in the 3rd quarter valued at about $50,000. Virtu Financial LLC boosted its holdings in B2Gold by 26.8% in the 3rd quarter. Virtu Financial LLC now owns 105,206 shares of the company’s stock worth $324,000 after buying an additional 22,232 shares during the last quarter. Old West Investment Management LLC purchased a new stake in B2Gold during the 3rd quarter worth approximately $670,000. Finally, Toronto Dominion Bank raised its holdings in shares of B2Gold by 6.7% during the third quarter. Toronto Dominion Bank now owns 530,740 shares of the company’s stock valued at $1,635,000 after acquiring an additional 33,194 shares during 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.