B2Gold (NYSE:BTG) Stock Price Expected to Rise, CIBC Analyst Says

B2Gold (NYSE:BTG) had its target price hoisted by CIBC from $3.30 to $3.60 in a research note released on Thursday morning, Marketbeat.com reports. The brokerage currently has a neutral rating on the stock.

Several other research analysts have also recently commented on the stock. Bank of America cut shares of B2Gold from a “buy” rating to an “underperform” rating in a report on Tuesday, January 14th. TD Securities cut shares of B2Gold from a “buy” rating to a “hold” rating in a report on Tuesday, February 4th. Finally, Cormark raised shares of B2Gold from a “hold” rating to a “moderate buy” rating in a report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $4.12.

B2Gold Stock Down 2.8 %

B2Gold stock opened at $3.12 on Thursday. The stock has a market cap of $4.11 billion, a P/E ratio of -6.50, a P/E/G ratio of 0.33 and a beta of 1.09. The company has a quick ratio of 1.08, a current ratio of 1.83 and a debt-to-equity ratio of 0.07. B2Gold has a twelve month low of $2.20 and a twelve month high of $3.50. The company’s 50-day moving average price is $2.65 and its two-hundred day moving average price is $2.83.

B2Gold Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, March 7th were paid a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date of this dividend was Friday, March 7th. B2Gold’s dividend payout ratio is presently -16.67%.

Hedge Funds Weigh In On B2Gold

A number of hedge funds have recently bought and sold shares of BTG. Norges Bank bought a new position in B2Gold during the fourth quarter worth $40,192,000. Two Sigma Advisers LP raised its stake in B2Gold by 66.9% during the third quarter. Two Sigma Advisers LP now owns 17,875,880 shares of the company’s stock worth $55,058,000 after buying an additional 7,165,600 shares during the last quarter. American Century Companies Inc. raised its stake in B2Gold by 31.3% during the fourth quarter. American Century Companies Inc. now owns 22,658,771 shares of the company’s stock worth $55,436,000 after buying an additional 5,401,334 shares during the last quarter. Invesco Ltd. raised its stake in B2Gold by 32.7% during the fourth quarter. Invesco Ltd. now owns 15,987,385 shares of the company’s stock worth $39,009,000 after buying an additional 3,939,040 shares during the last quarter. Finally, Bank of America Corp DE raised its stake in B2Gold by 577.0% during the fourth quarter. Bank of America Corp DE now owns 4,519,757 shares of the company’s stock worth $11,028,000 after buying an additional 3,852,095 shares during the last quarter. Institutional investors own 61.40% of the company’s stock.

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.