Stock Traders Purchase High Volume of B2Gold Call Options (NYSEAMERICAN:BTG)

B2Gold Corp (NYSEAMERICAN:BTG) (TSE:BTO) was the target of unusually large options trading on Monday. Stock investors purchased 32,233 call options on the company. This is an increase of 100% compared to the average daily volume of 16,121 call options.

B2Gold Price Performance

BTG stock traded up $0.16 during midday trading on Monday, reaching $5.68. 18,239,442 shares of the company’s stock traded hands, compared to its average volume of 31,069,760. The company has a 50-day simple moving average of $4.22 and a two-hundred day simple moving average of $4.65. The company has a quick ratio of 0.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.11. B2Gold has a 1-year low of $3.57 and a 1-year high of $6.28. The company has a market cap of $7.51 billion, a price-to-earnings ratio of 10.33, a PEG ratio of 0.38 and a beta of 0.66.

B2Gold (NYSEAMERICAN:BTG) (TSE:BTO) last issued its quarterly earnings data on Thursday, August 6th. The basic materials company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.04). B2Gold had a return on equity of 17.05% and a net margin of 21.47%.The company had revenue of $789.35 million for the quarter, compared to the consensus estimate of $836.33 million. During the same period in the prior year, the company earned $0.12 EPS. The firm’s revenue was up 14.0% compared to the same quarter last year. On average, analysts anticipate that B2Gold will post 0.49 earnings per share for the current year.

Institutional Trading of B2Gold

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BTG. Pale Fire Capital SE raised its stake in shares of B2Gold by 77.4% during the first quarter. Pale Fire Capital SE now owns 69,740,133 shares of the basic materials company’s stock worth $315,923,000 after buying an additional 30,428,530 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in B2Gold during the 2nd quarter worth $107,805,000. Deutsche Bank AG bought a new stake in shares of B2Gold during the 2nd quarter valued at $63,960,000. Norges Bank bought a new stake in shares of B2Gold during the 4th quarter valued at $75,333,000. Finally, Millennium Management LLC lifted its stake in shares of B2Gold by 248.2% in the 4th quarter. Millennium Management LLC now owns 23,342,850 shares of the basic materials company’s stock valued at $105,264,000 after purchasing an additional 16,639,601 shares during the period. 61.40% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

BTG has been the topic of several recent analyst reports. Canadian Imperial Bank of Commerce raised B2Gold from a “hold” rating to an “outperform” rating and set a $7.50 price target on the stock in a research note on Monday, August 10th. Royal Bank Of Canada cut their price objective on B2Gold from $5.75 to $5.00 and set a “sector perform” rating for the company in a report on Thursday, July 9th. Jefferies Financial Group reduced their target price on shares of B2Gold from $7.00 to $6.00 and set a “buy” rating on the stock in a research note on Monday, July 6th. Scotiabank upgraded shares of B2Gold from a “sector perform” rating to a “sector outperform” rating in a research report on Monday, August 10th. Finally, ATB Cormark Capital Markets raised shares of B2Gold from a “hold” rating to a “moderate buy” rating in a report on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, B2Gold presently has a consensus rating of “Buy” and an average price target of $6.17.

About B2Gold

B2Gold Corp. is a Canadian-based intermediate gold producer with a diversified portfolio of operating mines and advanced-stage development projects. Founded in 2007 through the merger of Bema Gold and CGA Mining, the company has grown to become one of the world’s largest new gold producers. Headquartered in Vancouver, British Columbia, B2Gold focuses on efficient, low-cost operations across several continents, combining exploration, development and production within a single strategic framework.

The company’s flagship assets include the Fekola mine in Mali, which commenced production in 2017, the Otjikoto mine in Namibia, and the Masbate mine in the Philippines.