B2Gold (NYSEAMERICAN:BTG) Shares Break Below Fifty Day Moving Average – Here’s What Happened

B2Gold Corp (NYSEAMERICAN:BTG) (TSE:BTO)’s share price passed below its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of $5.22 and traded as low as $5.15. B2Gold shares last traded at $5.18, with a volume of 29,765,713 shares.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Royal Bank Of Canada upped their price target on B2Gold from $5.00 to $6.25 and gave the company a “sector perform” rating in a report on Wednesday, September 16th. TD Securities raised B2Gold from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 10th. Canadian Imperial Bank of Commerce upgraded B2Gold from a “hold” rating to an “outperform” rating and set a $7.50 target price on the stock in a report on Monday, August 10th. Scotiabank upgraded B2Gold from a “sector perform” rating to a “sector outperform” rating in a report on Monday, August 10th. Finally, ATB Cormark Capital Markets raised B2Gold from a “hold” rating to a “moderate buy” rating in a research report on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, B2Gold presently has an average rating of “Buy” and a consensus price target of $6.81.

B2Gold Stock Down 2.4%

The company has a quick ratio of 0.66, a current ratio of 1.77 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $6.82 billion, a PE ratio of 6.32, a price-to-earnings-growth ratio of 0.30 and a beta of 0.64. The business’s 50 day simple moving average is $5.22 and its 200 day simple moving average is $4.85.

B2Gold (NYSEAMERICAN:BTG) (TSE:BTO) last announced its earnings results on Wednesday, November 4th. The basic materials company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.09 by $0.05. The company had revenue of $836.00 million during the quarter, compared to analysts’ expectations of $822.76 million. B2Gold had a net margin of 31.33% and a return on equity of 16.00%. As a group, analysts forecast that B2Gold Corp will post 0.57 EPS for the current year.

B2Gold Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Wednesday, December 2nd will be given a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Wednesday, December 2nd. B2Gold’s dividend payout ratio is -266.58%.

Hedge Funds Weigh In On B2Gold

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Two Sigma Securities LLC raised its stake in B2Gold by 341.9% during the 2nd quarter. Two Sigma Securities LLC now owns 236,275 shares of the basic materials company’s stock valued at $884,000 after purchasing an additional 182,811 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of B2Gold by 6.9% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 288,790 shares of the basic materials company’s stock worth $1,080,000 after buying an additional 18,536 shares during the period. Jefferies Financial Group Inc. acquired a new stake in shares of B2Gold in the second quarter worth $1,524,000. Public Employees Retirement System of Ohio acquired a new stake in shares of B2Gold in the second quarter worth $4,728,000. Finally, Capstone Investment Advisors LLC acquired a new stake in shares of B2Gold in the second quarter worth $731,000. Institutional investors and hedge funds own 61.40% of the company’s stock.

About B2Gold

B2Gold Corp. is a Canadian gold producer headquartered in Vancouver, British Columbia. Founded in 2007, the company explores for, develops and operates gold mines, with gold bullion as its principal product. B2Gold’s operations and projects span several regions, including Mali, Namibia, the Philippines and Canada. Its portfolio includes the Fekola, Otjikoto and Masbate mines, as well as the Goose project in Nunavut. In addition to producing gold, B2Gold conducts mineral exploration and evaluates opportunities to expand or develop its properties.