B2Gold (NYSE:BTG) Sets New 52-Week Low – Here’s Why

B2Gold Corp. (NYSE:BTG)’s share price reached a new 52-week low during trading on Tuesday . The stock traded as low as $2.34 and last traded at $2.41, with a volume of 7056825 shares changing hands. The stock had previously closed at $2.49.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. StockNews.com lowered shares of B2Gold from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. CIBC upped their target price on B2Gold from $3.30 to $3.60 and gave the stock a “neutral” rating in a research report on Tuesday, September 24th. Bank of America cut B2Gold from a “buy” rating to an “underperform” rating in a research report on Tuesday. Cibc World Mkts lowered B2Gold from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 24th. Finally, Jefferies Financial Group lifted their target price on B2Gold from $4.00 to $5.00 and gave the stock a “buy” rating in a report on Friday, October 4th. 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.com, B2Gold presently has an average rating of “Hold” and an average price target of $4.12.

B2Gold Trading Down 1.2 %

The firm has a 50 day moving average price of $2.69 and a two-hundred day moving average price of $2.89. The firm has a market capitalization of $3.24 billion, a P/E ratio of -4.39, a price-to-earnings-growth ratio of 0.53 and a beta of 1.09. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.08 and a current ratio of 1.83.

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

B2Gold Dividend Announcement

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

Institutional Trading of B2Gold

A number of hedge funds have recently modified their holdings of BTG. E&G Advisors LP acquired a new position in B2Gold during the third quarter valued at $31,000. Private Advisor Group LLC purchased a new stake in shares of B2Gold in the third quarter worth approximately $33,000. Flow Traders U.S. LLC acquired a new position in B2Gold in the third quarter worth approximately $35,000. HighTower Advisors LLC acquired a new stake in B2Gold in the third quarter valued at approximately $36,000. 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. Hedge funds and other 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.