Connor Clark & Lunn Investment Management Ltd. Sells 6,988,700 Shares of B2Gold Corp. (NYSE:BTG)

Connor Clark & Lunn Investment Management Ltd. cut its holdings in B2Gold Corp. (NYSE:BTG) by 60.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,607,788 shares of the company’s stock after selling 6,988,700 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.35% of B2Gold worth $11,269,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Moors & Cabot Inc. raised its position in shares of B2Gold by 35.0% during the 3rd quarter. Moors & Cabot Inc. now owns 13,500 shares of the company’s stock valued at $42,000 after purchasing an additional 3,500 shares during the period. HighTower Advisors LLC raised its position in shares of B2Gold by 45.4% during the 4th quarter. HighTower Advisors LLC now owns 16,933 shares of the company’s stock valued at $41,000 after purchasing an additional 5,288 shares during the period. KPP Advisory Services LLC raised its position in shares of B2Gold by 26.1% during the 3rd quarter. KPP Advisory Services LLC now owns 44,450 shares of the company’s stock valued at $137,000 after purchasing an additional 9,200 shares during the period. Flow Traders U.S. LLC bought a new stake in shares of B2Gold during the 3rd quarter valued at $35,000. Finally, Tradition Wealth Management LLC bought a new stake in shares of B2Gold during the 3rd quarter valued at $44,000. 61.40% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

BTG has been the topic of several recent analyst reports. CIBC decreased their price objective on shares of B2Gold from $3.70 to $3.30 and set a “neutral” rating on the stock in a research report on Wednesday, January 15th. Cormark raised shares of B2Gold from a “hold” rating to a “moderate buy” rating in a research note on Friday, February 21st. Bank of America cut shares of B2Gold from a “buy” rating to an “underperform” rating in a research note on Tuesday, January 14th. Finally, TD Securities cut shares of B2Gold from a “buy” rating to a “hold” rating in a research note on Tuesday, February 4th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $4.02.

B2Gold Stock Performance

Shares of NYSE:BTG opened at $2.96 on Friday. B2Gold Corp. has a 52 week low of $2.20 and a 52 week high of $3.50. The stock has a market capitalization of $3.90 billion, a P/E ratio of -6.17, a PEG ratio of 0.33 and a beta of 1.09. The firm has a fifty day simple moving average of $2.58 and a two-hundred day simple moving average of $2.81. The company has a quick ratio of 1.08, a current ratio of 1.83 and a debt-to-equity ratio of 0.07.

B2Gold Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, March 7th will be paid a $0.02 dividend. The ex-dividend date is Friday, March 7th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 2.70%. B2Gold’s payout ratio is currently -16.67%.

B2Gold 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.