B2Gold (NYSEAMERICAN:BTG) Shares Break Below Fifty Day Moving Average – Here’s What Happened

B2Gold Corp (NYSEAMERICAN:BTG) (TSE:BTO)’s share price passed below its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of $5.22 and traded as low as $5.15. B2Gold shares last traded at $5.18, with a volume of 29,765,713 shares.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. ATB Cormark Capital Markets raised shares of B2Gold from a “hold” rating to a “moderate buy” rating in a report on Monday, August 10th. Raymond James Financial boosted their price objective on shares of B2Gold from $7.25 to $7.50 and gave the company an “outperform” rating in a research report on Friday, September 4th. TD Securities raised shares of B2Gold from a “hold” rating to a “strong-buy” rating in a report on Monday, August 10th. Canadian Imperial Bank of Commerce raised shares of B2Gold from a “hold” rating to an “outperform” rating and set a $7.50 target price on the stock in a report on Monday, August 10th. Finally, Royal Bank Of Canada lifted their target price on B2Gold from $5.00 to $6.25 and gave the company a “sector perform” rating in a research note on Wednesday, September 16th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $6.81.

B2Gold Price Performance

The business’s 50-day simple moving average is $5.22 and its 200 day simple moving average is $4.85. The company has a market capitalization of $6.82 billion, a P/E ratio of 6.32, a P/E/G ratio of 0.30 and a beta of 0.64. The company has a current ratio of 1.77, a quick ratio of 0.66 and a debt-to-equity ratio of 0.12.

B2Gold (NYSEAMERICAN:BTG) (TSE:BTO) last posted its quarterly earnings data on Wednesday, November 4th. The basic materials company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.05. B2Gold had a net margin of 31.33% and a return on equity of 16.00%. The business had revenue of $836.00 million for the quarter, compared to analyst estimates of $822.76 million. As a group, sell-side analysts anticipate that B2Gold Corp will post 0.57 EPS for the current year.

B2Gold Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Wednesday, December 2nd will be paid a dividend of $0.02 per share. The ex-dividend date of this dividend is Wednesday, December 2nd. This represents a $0.08 annualized dividend and a yield of 1.5%. B2Gold’s dividend payout ratio (DPR) is currently -266.58%.

Institutional Investors Weigh In On B2Gold

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Pale Fire Capital SE lifted its holdings in B2Gold by 77.4% in the 1st quarter. Pale Fire Capital SE now owns 69,740,133 shares of the basic materials company’s stock valued at $315,923,000 after acquiring an additional 30,428,530 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of B2Gold by 4.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 33,477,302 shares of the basic materials company’s stock worth $151,630,000 after purchasing an additional 1,315,923 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of B2Gold in the 2nd quarter worth approximately $107,805,000. Deutsche Bank AG bought a new stake in shares of B2Gold in the 2nd quarter worth approximately $63,960,000. Finally, Bank of America Corp DE raised its holdings in shares of B2Gold by 9.9% in the 1st quarter. Bank of America Corp DE now owns 12,049,614 shares of the basic materials company’s stock worth $54,585,000 after purchasing an additional 1,088,119 shares in the last quarter. 61.40% of the stock is currently owned by institutional investors.

About B2Gold

B2Gold Corp. is a Canadian gold producer headquartered in Vancouver, British Columbia. Founded in 2007, the company explores for, develops and operates gold mines, with gold bullion as its principal product. B2Gold’s operations and projects span several regions, including Mali, Namibia, the Philippines and Canada. Its portfolio includes the Fekola, Otjikoto and Masbate mines, as well as the Goose project in Nunavut. In addition to producing gold, B2Gold conducts mineral exploration and evaluates opportunities to expand or develop its properties.