Old West Investment Management LLC Takes Position in B2Gold Corp. (NYSE:BTG)

Old West Investment Management LLC bought a new stake in B2Gold Corp. (NYSE:BTG) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 435,038 shares of the company’s stock, valued at approximately $1,340,000.

Several other hedge funds also recently modified their holdings of BTG. E&G Advisors LP bought a new stake in shares of B2Gold in the 3rd quarter valued at $31,000. Private Advisor Group LLC bought a new stake in shares of B2Gold during the 3rd quarter valued at $33,000. Continuum Advisory LLC purchased a new stake in B2Gold in the 2nd quarter worth approximately $40,000. Baader Bank Aktiengesellschaft purchased a new stake in shares of B2Gold in the 2nd quarter valued at about $42,000. Finally, Blue Trust Inc. grew its position in B2Gold by 72.1% in the third quarter. Blue Trust Inc. now owns 13,755 shares of the company’s stock worth $42,000 after acquiring an additional 5,764 shares in the last quarter. Institutional investors and hedge funds own 61.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Cibc World Mkts cut B2Gold from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 24th. CIBC increased their price target on shares of B2Gold from $3.30 to $3.60 and gave the company a “neutral” rating in a report on Tuesday, September 24th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $3.75 price target on shares of B2Gold in a research note on Tuesday, September 17th. Scotiabank cut B2Gold from a “strong-buy” rating to a “hold” rating in a report on Friday, August 9th. Finally, Cormark cut shares of B2Gold from a “moderate buy” rating to a “hold” rating in a research note on Monday, August 12th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $4.12.

B2Gold Price Performance

B2Gold stock opened at $3.28 on Wednesday. B2Gold Corp. has a twelve month low of $2.34 and a twelve month high of $3.50. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.74 and a current ratio of 2.93. The business has a 50-day simple moving average of $3.14. The company has a market cap of $4.30 billion, a P/E ratio of -29.77, a PEG ratio of 2.69 and a beta of 1.13.

B2Gold (NYSE:BTG) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.02). The firm had revenue of $492.57 million for the quarter. B2Gold had a negative net margin of 7.44% and a positive return on equity of 8.01%. As a group, sell-side analysts expect that B2Gold Corp. will post 0.25 earnings per share for the current fiscal year.

B2Gold Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Tuesday, September 10th were issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 4.89%. The ex-dividend date of this dividend was Tuesday, September 10th. B2Gold’s payout ratio is currently -145.44%.

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.