B2Gold (NYSEAMERICAN:BTG) Stock Crosses Below 50-Day Moving Average – Here’s Why

B2Gold Corp (NYSEAMERICAN:BTG) (TSE:BTO) shares passed below its 50-day moving average during trading on Thursday. The stock has a 50-day moving average of $5.34 and traded as low as $4.86. B2Gold shares last traded at $4.87, with a volume of 23,078,843 shares.

Analysts Set New Price Targets

A number of research firms have recently weighed in on BTG. Jefferies Financial Group lowered their price target on shares of B2Gold from $7.00 to $6.00 and set a “buy” rating on the stock in a report on Monday, July 6th. TD Securities upgraded shares of B2Gold from a “hold” rating to a “strong-buy” rating in a research 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 for the company in a research note on Monday, August 10th. Royal Bank Of Canada upped their price target on shares of B2Gold from $5.00 to $6.25 and gave the stock a “sector perform” rating in a research report on Wednesday, September 16th. Finally, ATB Cormark Capital Markets raised shares of B2Gold from a “hold” rating to a “moderate buy” rating in a research note on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $6.81.

B2Gold Stock Down 1.8%

The business has a fifty day simple moving average of $5.33 and a two-hundred day simple moving average of $4.73. The company has a current ratio of 1.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.11. The company has a market cap of $6.31 billion, a PE ratio of 8.69, a price-to-earnings-growth ratio of 0.30 and a beta of 0.70.

B2Gold (NYSEAMERICAN:BTG) (TSE:BTO) last issued its earnings results 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). The business had revenue of $789.35 million during the quarter, compared to analyst estimates of $836.33 million. B2Gold had a net margin of 21.47% and a return on equity of 17.05%. B2Gold’s quarterly revenue was up 14.0% on a year-over-year basis. During the same quarter last year, the company earned $0.12 earnings per share. As a group, equities research analysts predict that B2Gold Corp will post 0.52 earnings per share for the current year.

Institutional Inflows and Outflows

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

About B2Gold

B2Gold Corp. is a Canadian gold mining company engaged in the acquisition, development and operation of gold mines and exploration properties. The company’s activities include mineral exploration, mine development, ore processing and the production and sale of gold.

B2Gold’s principal producing assets have included the Fekola Complex in Mali and the Masbate Mine in the Philippines. The company has also operated the Otjikoto Mine in Namibia and has pursued additional growth through exploration and project development in several jurisdictions.

Founded in 2007 and headquartered in Vancouver, British Columbia, B2Gold expanded from an exploration-focused business into an international gold producer.