B2Gold (TSE:BTO) Shares Pass Above 200-Day Moving Average After Analyst Downgrade

B2Gold Corp. (TSE:BTO) (NYSE:BTG) crossed above its 200-day moving average during trading on Friday after Stifel Nicolaus raised their price target on the stock from C$7.50 to C$11.50. The stock has a 200-day moving average of C$5.44 and traded as high as C$5.59. B2Gold shares last traded at C$5.48, with a volume of 13,029,884 shares.

Several other research analysts have also recently commented on BTO. Raymond James Financial raised shares of B2Gold to a “moderate buy” rating in a research report on Monday, June 30th. Bank of America increased their target price on B2Gold from C$5.35 to C$6.25 in a report on Thursday, October 16th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, B2Gold has an average rating of “Hold” and a consensus target price of C$7.63.

Insider Activity

In other news, insider Randall Chatwin sold 7,000 shares of the firm’s stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of C$5.33, for a total value of C$37,310.00. Following the transaction, the insider directly owned 40,199 shares in the company, valued at C$214,260.67. This trade represents a 14.83% decrease in their position. Also, insider Peter Dominic Montano sold 147,000 shares of the company’s stock in a transaction dated Wednesday, October 8th. The shares were sold at an average price of C$7.49, for a total value of C$1,101,030.00. Following the completion of the sale, the insider owned -1,405 shares of the company’s stock, valued at C($10,523.45). This represents a 100.97% decrease in their position. In the last three months, insiders sold 1,305,095 shares of company stock worth $9,529,870. Corporate insiders own 0.66% of the company’s stock.

B2Gold Stock Up 2.2%

The company has a market capitalization of C$7.29 billion, a price-to-earnings ratio of -15.66, a PEG ratio of -0.27 and a beta of 0.96. The firm has a 50-day moving average price of C$6.63 and a two-hundred day moving average price of C$5.44. The company has a debt-to-equity ratio of 7.51, a current ratio of 1.83 and a quick ratio of 3.33.

B2Gold Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 23rd. Investors of record on Tuesday, September 23rd were given a $0.02 dividend. The ex-dividend date of this dividend was Wednesday, September 10th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 1.5%. B2Gold’s payout ratio is currently -34.29%.

About B2Gold

B2Gold Corp is an international, low-cost, senior gold mining company. It has three operating open-pit gold mines in Mali, Namibia, and the Philippines and numerous exploration projects across four continents. Other significant assets include the Gramalote and Kiaka gold projects. The company focuses on acquiring and developing interests in mineral properties with a primary focus on gold deposits as gold production forms all its revenue.