B2Gold (NYSE:BTG) Hits New 12-Month Low – Here’s Why

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 trading hands. The stock had previously closed at $2.49.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Cibc World Mkts downgraded B2Gold from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 24th. StockNews.com downgraded shares of B2Gold from a “buy” rating to a “hold” rating in a report on Friday, November 8th. CIBC decreased their price objective on shares of B2Gold from $3.70 to $3.30 and set a “neutral” rating for the company in a research note on Wednesday. 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 note on Friday, October 4th. Finally, Bank of America lowered B2Gold from a “buy” rating to an “underperform” rating in a research note on Tuesday. 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. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $4.02.

B2Gold Trading Down 2.8 %

The company’s fifty day simple moving average is $2.66 and its 200-day simple moving average is $2.89. The company has a market capitalization of $3.21 billion, a P/E ratio of 12.33, a PEG ratio of 0.26 and a beta of 1.09. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.08 and a current ratio of 1.83.

B2Gold (NYSE:BTG) last announced its earnings results on Wednesday, November 6th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $448.23 million for the quarter, compared to the consensus estimate of $449.28 million. During the same period last year, the business posted $0.05 EPS. The firm’s revenue was down 6.2% compared to the same quarter last year. Research analysts predict that B2Gold Corp. will post 0.23 earnings per share for the current year.

B2Gold Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Monday, December 2nd were given a dividend of $0.04 per share. 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 Trading of B2Gold

Several hedge funds and other institutional investors have recently made changes to their positions in BTG. Commonwealth Equity Services LLC increased its position in B2Gold by 94.7% during the 2nd quarter. Commonwealth Equity Services LLC now owns 86,040 shares of the company’s stock valued at $232,000 after buying an additional 41,850 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of B2Gold by 39.4% during the second quarter. American Century Companies Inc. now owns 12,284,484 shares of the company’s stock valued at $33,053,000 after acquiring an additional 3,474,553 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new position in shares of B2Gold in the 2nd quarter valued at approximately $927,000. Rathbones Group PLC boosted its stake in B2Gold by 25.1% in the 2nd quarter. Rathbones Group PLC now owns 101,122 shares of the company’s stock worth $272,000 after purchasing an additional 20,317 shares in the last quarter. Finally, XTX Topco Ltd grew its position in B2Gold by 19.0% during the 2nd quarter. XTX Topco Ltd now owns 191,010 shares of the company’s stock worth $516,000 after purchasing an additional 30,539 shares during the last quarter. Hedge funds and other institutional investors 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.