Connor Clark & Lunn Investment Management Ltd. Reduces Stock Position in B2Gold Corp. (NYSE:BTG)

Connor Clark & Lunn Investment Management Ltd. lessened its position in B2Gold Corp. (NYSE:BTG) by 60.3% in the 4th quarter, Holdings Channel.com reports. The fund owned 4,607,788 shares of the company’s stock after selling 6,988,700 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in B2Gold were worth $11,269,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Old West Investment Management LLC bought a new stake in shares of B2Gold in the 3rd quarter worth about $670,000. FMR LLC lifted its holdings in shares of B2Gold by 0.7% in the 3rd quarter. FMR LLC now owns 59,489,129 shares of the company’s stock worth $183,862,000 after acquiring an additional 438,399 shares during the last quarter. Invenomic Capital Management LP bought a new stake in shares of B2Gold in the 3rd quarter worth about $2,636,000. Geode Capital Management LLC lifted its holdings in shares of B2Gold by 46.7% in the 3rd quarter. Geode Capital Management LLC now owns 2,075,521 shares of the company’s stock worth $7,544,000 after acquiring an additional 661,107 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its holdings in shares of B2Gold by 62.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 95,482 shares of the company’s stock worth $294,000 after acquiring an additional 36,555 shares during the last quarter. Institutional investors own 61.40% of the company’s stock.

B2Gold Trading Up 2.1 %

NYSE:BTG opened at $2.96 on Friday. B2Gold Corp. has a one year low of $2.20 and a one year high of $3.50. 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 firm has a market cap of $3.90 billion, a P/E ratio of -6.17, a P/E/G ratio of 0.33 and a beta of 1.09. The firm has a 50-day simple moving average of $2.58 and a 200-day simple moving average of $2.81.

B2Gold Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, March 7th will be issued a $0.02 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $0.08 annualized dividend and a dividend yield of 2.70%. B2Gold’s dividend payout ratio is currently -16.67%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on BTG. TD Securities lowered shares of B2Gold from a “buy” rating to a “hold” rating in a report on Tuesday, February 4th. Cormark upgraded shares of B2Gold from a “hold” rating to a “moderate buy” rating in a report on Friday, February 21st. CIBC decreased their price objective on shares of B2Gold from $3.70 to $3.30 and set a “neutral” rating for the company in a report on Wednesday, January 15th. Finally, Bank of America lowered shares of B2Gold from a “buy” rating to an “underperform” rating in a report on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $4.02.

B2Gold 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.