B2Gold (TSE:BTO) Shares Up 4% - Here's Why
B2Gold Corp. (TSE:BTO) shares rose 4% to C$4.65, with 2,042,572 shares traded. Analysts have downgraded the stock's ratings, with a consensus target price of C$5.94. The company recently declared a quarterly dividend of $0.02 per share, yielding 1.70%. Insider transactions showed significant share sales by senior officers. B2Gold operates gold mines in Mali, the Philippines, and Namibia, and holds interests in other projects. Despite a moderate buy rating, analysts suggest better investment options are available.
B2Gold Corp. (TSE:BTO - Get Free Report) NYSE: BTG's share price traded up 4% during trading on Monday . The company traded as high as C$4.68 and last traded at C$4.65. 2,042,572 shares changed hands during mid-day trading, a decline of 47% from the average session volume of 3,875,419 shares. The stock had previously closed at C$4.47.
Analysts Set New Price Targets
BTO has been the subject of several research reports. TD Securities downgraded shares of B2Gold from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 4th. Bank of America cut shares of B2Gold from a "buy" rating to an "underperform" rating in a report on Tuesday, January 14th. Cormark lowered shares of B2Gold from a "moderate buy" rating to a "hold" rating in a report on Monday, March 31st. Finally, BMO Capital Markets decreased their price objective on B2Gold from C$7.00 to C$6.50 in a report on Monday, March 31st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, B2Gold has an average rating of "Hold" and a consensus target price of C$5.94.
View Our Latest Stock Analysis on B2Gold
B2Gold Trading Up 5.1 %
The company has a quick ratio of 3.33, a current ratio of 1.83 and a debt-to-equity ratio of 7.51. The firm has a market capitalization of C$4.34 billion, a P/E ratio of -5.41, a price-to-earnings-growth ratio of -0.27 and a beta of 1.23. The firm's 50-day simple moving average is C$4.03 and its 200-day simple moving average is C$3.98.
B2Gold Cuts Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, March 20th were given a dividend of $0.02 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.08 dividend on an annualized basis and a yield of 1.70%. B2Gold's payout ratio is -25.32%.
Insider Transactions at B2Gold
In related news, Senior Officer Eduard Bartz sold 27,862 shares of B2Gold stock in a transaction on Friday, March 7th. The shares were sold at an average price of C$3.89, for a total value of C$108,383.18. Following the transaction, the insider now owns 16 shares in the company, valued at C$62.24. This trade represents a 99.94 % decrease in their position. Also, Senior Officer William Lytle sold 54,062 shares of B2Gold stock in a transaction dated Monday, March 10th. The stock was sold at an average price of C$3.85, for a total value of C$208,138.70. In the last three months, insiders sold 415,145 shares of company stock worth $1,635,577. 0.66% of the stock is currently owned by corporate insiders.
About B2Gold
(Get Free Report)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.
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