CIBC Issues Pessimistic Forecast for B2Gold (NYSE:BTG) Stock Price

B2Gold (NYSE:BTG) had its price objective cut by CIBC from $3.70 to $3.30 in a research note issued to investors on Wednesday,Benzinga reports. They currently have a neutral rating on the stock.

BTG has been the subject of several other research reports. Bank of America lowered shares of B2Gold from a “buy” rating to an “underperform” rating in a research report on Tuesday. Jefferies Financial Group upped their price target on shares of B2Gold from $4.00 to $5.00 and gave the company a “buy” rating in a research report on Friday, October 4th. Cibc World Mkts lowered shares of 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 report on Friday, November 8th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $3.75 target price on shares of B2Gold in a report on Tuesday, September 17th. One analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $4.02.

B2Gold Price Performance

Shares of NYSE:BTG opened at $2.46 on Wednesday. B2Gold has a fifty-two week low of $2.34 and a fifty-two week high of $3.50. The business has a 50-day simple moving average of $2.66 and a two-hundred day simple moving average of $2.89. 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 $3.24 billion, a price-to-earnings ratio of -4.39, a price-to-earnings-growth ratio of 0.26 and a beta of 1.09.

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

B2Gold Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Monday, December 2nd were paid a $0.04 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $0.16 annualized dividend and a yield of 6.50%. B2Gold’s payout ratio is -28.57%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Old West Investment Management LLC bought a new position in shares of B2Gold during the 3rd quarter valued at approximately $670,000. FMR LLC boosted its position in shares of B2Gold by 0.7% during the 3rd quarter. FMR LLC now owns 59,489,129 shares of the company’s stock valued at $183,862,000 after acquiring an additional 438,399 shares during the last quarter. Invenomic Capital Management LP bought a new position in shares of B2Gold during the 3rd quarter valued at approximately $2,636,000. Cubist Systematic Strategies LLC boosted its position in shares of B2Gold by 133.8% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 1,977,354 shares of the company’s stock valued at $5,334,000 after acquiring an additional 1,131,534 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its position in shares of B2Gold by 62.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 95,482 shares of the company’s stock valued at $294,000 after acquiring an additional 36,555 shares during the last quarter. 61.40% of the stock is currently 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.