B2Gold (NYSE:BTG) Trading Down 3.4% – Here’s What Happened

Shares of B2Gold Corp. (NYSE:BTG) fell 3.4% during mid-day trading on Monday . The company traded as low as $2.80 and last traded at $2.82. 1,292,599 shares changed hands during trading, a decline of 90% from the average session volume of 12,647,310 shares. The stock had previously closed at $2.92.

Analyst Upgrades and Downgrades

BTG has been the subject of several research analyst reports. Scotiabank lowered B2Gold from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 9th. CIBC upped their target price on shares of B2Gold from $3.30 to $3.60 and gave the company a “neutral” rating in a report on Tuesday, September 24th. Cormark downgraded shares of B2Gold from a “moderate buy” rating to a “hold” rating in a research report on Monday, August 12th. Jefferies Financial Group upped their price target on shares of B2Gold from $4.00 to $5.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. Finally, StockNews.com downgraded B2Gold from a “buy” rating to a “hold” rating in a report on Friday, November 8th. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $4.12.

B2Gold Price Performance

The stock has a market capitalization of $3.76 billion, a price-to-earnings ratio of -5.05, a price-to-earnings-growth ratio of 2.54 and a beta of 1.13. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.08 and a current ratio of 1.83. The company’s 50 day simple moving average is $3.16.

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

B2Gold Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 5.59%. The ex-dividend date is Monday, December 2nd. B2Gold’s dividend payout ratio is presently -28.57%.

Hedge Funds Weigh In On B2Gold

A number of large investors have recently made changes to their positions in the company. SG Americas Securities LLC lifted its stake in shares of B2Gold by 21.9% in the second quarter. SG Americas Securities LLC now owns 184,373 shares of the company’s stock worth $498,000 after acquiring an additional 33,113 shares during the period. Baader Bank Aktiengesellschaft purchased a new position in B2Gold in the 2nd quarter valued at approximately $42,000. Equinox Partners Investment Management LLC lifted its position in shares of B2Gold by 31.6% during the second quarter. Equinox Partners Investment Management LLC now owns 6,032,986 shares of the company’s stock worth $16,185,000 after acquiring an additional 1,450,000 shares in the last quarter. Continuum Advisory LLC bought a new position in shares of B2Gold in the second quarter worth $40,000. Finally, KG&L Capital Management LLC grew its position in shares of B2Gold by 9.6% in the second quarter. KG&L Capital Management LLC now owns 207,500 shares of the company’s stock valued at $560,000 after purchasing an additional 18,200 shares in the last quarter. Institutional investors 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.