B2Gold (NYSE:BTG) Shares Gap Up – Here’s Why

B2Gold Corp. (NYSE:BTG)’s share price gapped up before the market opened on Monday . The stock had previously closed at $2.88, but opened at $2.94. B2Gold shares last traded at $2.90, with a volume of 4,820,561 shares traded.

Analysts Set New Price Targets

BTG has been the topic of a number of research reports. Bank of America downgraded B2Gold from a “buy” rating to an “underperform” rating in a research note on Tuesday, January 14th. TD Securities downgraded B2Gold from a “buy” rating to a “hold” rating in a research note on Tuesday, February 4th. Cormark raised B2Gold from a “hold” rating to a “moderate buy” rating in a research note on Friday, February 21st. Finally, CIBC lifted their target price on B2Gold from $3.30 to $3.60 and gave the company a “neutral” rating in a research report on Thursday, March 20th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $4.12.

B2Gold Trading Down 1.2 %

The company has a current ratio of 1.83, a quick ratio of 1.08 and a debt-to-equity ratio of 0.07. The stock’s fifty day moving average price is $2.71 and its 200 day moving average price is $2.84. The stock has a market cap of $3.75 billion, a P/E ratio of -5.93, a PEG ratio of 0.33 and a beta of 1.09.

B2Gold Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, March 7th were issued a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date of this dividend was Friday, March 7th. B2Gold’s payout ratio is -16.67%.

Institutional Investors Weigh In On B2Gold

Several institutional investors have recently modified their holdings of the business. Cantor Fitzgerald L. P. bought a new position in B2Gold during the 4th quarter valued at about $25,000. Flow Traders U.S. LLC bought a new position in B2Gold during the third quarter valued at approximately $35,000. HighTower Advisors LLC purchased a new stake in B2Gold in the third quarter worth approximately $36,000. Groupama Asset Managment bought a new stake in B2Gold in the 4th quarter worth approximately $29,000. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in B2Gold during the 4th quarter valued at $30,000. 61.40% of the stock is owned by hedge funds and other institutional investors.

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.