Invenomic Capital Management LP Makes New $2.64 Million Investment in B2Gold Corp. (NYSE:BTG)

Invenomic Capital Management LP purchased a new position in B2Gold Corp. (NYSE:BTG) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 855,844 shares of the company’s stock, valued at approximately $2,636,000. Invenomic Capital Management LP owned about 0.07% of B2Gold at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. SG Americas Securities LLC raised its position in B2Gold by 21.9% in the 2nd quarter. SG Americas Securities LLC now owns 184,373 shares of the company’s stock worth $498,000 after buying an additional 33,113 shares during the last quarter. Baader Bank Aktiengesellschaft bought a new position in B2Gold during the second quarter valued at approximately $42,000. Equinox Partners Investment Management LLC lifted its position in B2Gold by 31.6% during the second quarter. Equinox Partners Investment Management LLC now owns 6,032,986 shares of the company’s stock valued at $16,185,000 after purchasing an additional 1,450,000 shares during the period. Continuum Advisory LLC purchased a new stake in B2Gold in the second quarter worth approximately $40,000. Finally, KG&L Capital Management LLC raised its stake in B2Gold by 9.6% during the 2nd quarter. KG&L Capital Management LLC now owns 207,500 shares of the company’s stock valued at $560,000 after buying an additional 18,200 shares during the last quarter. 61.40% of the stock is owned by institutional investors.

B2Gold Stock Up 1.3 %

NYSE BTG opened at $2.80 on Wednesday. B2Gold Corp. has a 52 week low of $2.34 and a 52 week high of $3.50. The company has a quick ratio of 1.08, a current ratio of 1.83 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $3.67 billion, a P/E ratio of -4.99, a price-to-earnings-growth ratio of 0.52 and a beta of 1.08. The stock’s 50-day moving average price is $3.09 and its 200-day moving average price is $2.91.

B2Gold (NYSE:BTG) last released its earnings results on Wednesday, November 6th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.03). The firm had revenue of $448.23 million for the quarter, compared to the consensus estimate of $449.28 million. B2Gold had a positive return on equity of 7.53% and a negative net margin of 38.42%. B2Gold’s revenue was down 6.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.05 EPS. On average, equities 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 will be paid on Thursday, December 12th. Investors 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 5.72%. The ex-dividend date of this dividend is Monday, December 2nd. B2Gold’s dividend payout ratio (DPR) is -28.57%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on BTG. Royal Bank of Canada restated a “sector perform” rating and issued a $3.75 price target on shares of B2Gold in a research note on Tuesday, September 17th. Cibc World Mkts downgraded B2Gold from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Scotiabank cut shares of B2Gold from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 9th. Jefferies Financial Group raised their price objective on shares of B2Gold from $4.00 to $5.00 and gave the stock a “buy” rating in a report on Friday, October 4th. Finally, Cormark cut shares of B2Gold from a “moderate buy” rating to a “hold” rating in a report on Monday, August 12th. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $4.12.

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.