CIBC Increases B2Gold (NYSE:BTG) Price Target to $3.60

B2Gold (NYSE:BTG) had its price objective hoisted by CIBC from $3.30 to $3.60 in a report issued on Tuesday, Marketbeat reports. CIBC currently has a neutral rating on the stock.

Several other equities research analysts also recently issued reports on the stock. StockNews.com upgraded shares of B2Gold from a hold rating to a buy rating in a research report on Saturday, August 17th. Cibc World Mkts upgraded shares of B2Gold from a hold rating to a strong-buy rating in a research report on Wednesday, August 14th. Cormark downgraded shares of B2Gold from a moderate buy rating to a hold rating in a research report on Monday, August 12th. Royal Bank of Canada restated a sector perform rating and set a $3.75 price objective on shares of B2Gold in a research report on Tuesday, September 17th. Finally, Scotiabank downgraded shares of B2Gold from a strong-buy rating to a hold rating in a research report on Friday, August 9th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of Hold and an average target price of $3.78.

B2Gold Stock Performance

B2Gold stock opened at $3.33 on Tuesday. B2Gold has a 52 week low of $2.34 and a 52 week high of $3.46. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.93 and a quick ratio of 1.74. The company has a market capitalization of $4.35 billion, a PE ratio of -111.00, a P/E/G ratio of 0.54 and a beta of 1.14. The stock’s 50-day simple moving average is $2.89.

B2Gold (NYSE:BTG) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.02). B2Gold had a positive return on equity of 8.01% and a negative net margin of 7.44%. The business had revenue of $492.57 million for the quarter. Research analysts forecast that B2Gold will post 0.25 earnings per share for the current year.

B2Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Tuesday, September 10th were given a $0.04 dividend. The ex-dividend date was Tuesday, September 10th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 4.80%. B2Gold’s payout ratio is -533.33%.

Institutional Investors Weigh In On B2Gold

A number of hedge funds and other institutional investors have recently made changes to their positions in BTG. Continuum Advisory LLC acquired a new stake in shares of B2Gold in the second quarter valued at approximately $40,000. Baader Bank Aktiengesellschaft acquired a new stake in shares of B2Gold in the second quarter valued at approximately $42,000. Concurrent Investment Advisors LLC acquired a new stake in shares of B2Gold in the second quarter valued at approximately $57,000. Point72 DIFC Ltd raised its position in shares of B2Gold by 16.6% in the second quarter. Point72 DIFC Ltd now owns 21,471 shares of the company’s stock valued at $58,000 after buying an additional 3,053 shares in the last quarter. Finally, Raymond James Trust N.A. raised its position in B2Gold by 69.3% during the second quarter. Raymond James Trust N.A. now owns 22,615 shares of the company’s stock valued at $61,000 after purchasing an additional 9,258 shares in the last quarter. 61.40% of the stock is currently owned by institutional investors and hedge funds.

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.