CIBC Cuts B2Gold (NYSE:BTG) Price Target to $3.30

B2Gold (NYSE:BTG) had its target price lowered by CIBC from $3.70 to $3.30 in a research note released on Wednesday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other research analysts have also issued reports on BTG. Cibc World Mkts lowered B2Gold from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 24th. StockNews.com lowered shares of B2Gold from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $3.75 target price on shares of B2Gold in a research note on Tuesday, September 17th. Jefferies Financial Group increased their target price on shares of B2Gold from $4.00 to $5.00 and gave the stock a “buy” rating in a report on Friday, October 4th. Finally, Bank of America lowered shares of B2Gold from a “buy” rating to an “underperform” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $4.02.

B2Gold Stock Up 0.4 %

Shares of NYSE BTG opened at $2.39 on Wednesday. The stock has a market cap of $3.14 billion, a PE ratio of -4.27, a PEG ratio of 0.26 and a beta of 1.09. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.08 and a current ratio of 1.83. The business has a fifty day moving average of $2.64 and a two-hundred day moving average of $2.88. B2Gold has a 52-week low of $2.32 and a 52-week high of $3.50.

B2Gold (NYSE:BTG) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.03). B2Gold had a positive return on equity of 7.53% and a negative net margin of 38.42%. The business had revenue of $448.23 million for the quarter, compared to the consensus estimate of $449.28 million. During the same quarter last year, the company earned $0.05 earnings per share. The firm’s revenue was down 6.2% on a year-over-year basis. As a group, equities research analysts expect that B2Gold will post 0.23 earnings per share for the current fiscal year.

B2Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Monday, December 2nd were given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 6.69%. The ex-dividend date of this dividend was Monday, December 2nd. B2Gold’s dividend payout ratio (DPR) is presently -28.57%.

Institutional Investors Weigh In On B2Gold

Institutional investors and hedge funds have recently modified their holdings of the company. Commonwealth Equity Services LLC increased its position in B2Gold by 94.7% during the second quarter. Commonwealth Equity Services LLC now owns 86,040 shares of the company’s stock worth $232,000 after buying an additional 41,850 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of B2Gold by 39.4% during the 2nd quarter. American Century Companies Inc. now owns 12,284,484 shares of the company’s stock worth $33,053,000 after acquiring an additional 3,474,553 shares during the period. DekaBank Deutsche Girozentrale acquired a new position in shares of B2Gold during the 2nd quarter worth approximately $927,000. Rathbones Group PLC raised its stake in B2Gold by 25.1% in the 2nd quarter. Rathbones Group PLC now owns 101,122 shares of the company’s stock valued at $272,000 after acquiring an additional 20,317 shares during the period. Finally, XTX Topco Ltd lifted its holdings in B2Gold by 19.0% during the 2nd quarter. XTX Topco Ltd now owns 191,010 shares of the company’s stock valued at $516,000 after purchasing an additional 30,539 shares during the last quarter. 61.40% of the stock is owned by 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.