Cormark Lowers B2Gold (NYSE:BTG) to Hold

Cormark lowered shares of B2Gold (NYSE:BTG) from a moderate buy rating to a hold rating in a research note issued to investors on Monday, Zacks.com reports. Cormark also issued estimates for B2Gold’s Q3 2024 earnings at $0.04 EPS, Q4 2024 earnings at $0.05 EPS, FY2024 earnings at $0.21 EPS and FY2025 earnings at $0.38 EPS.

A number of other equities analysts also recently commented on the company. CIBC raised their price objective on B2Gold from $3.40 to $3.50 and gave the stock a neutral rating in a report on Wednesday, July 10th. Jefferies Financial Group raised their price objective on B2Gold from $3.50 to $4.00 and gave the stock a buy rating in a report on Friday, July 12th. Finally, StockNews.com downgraded B2Gold from a buy rating to a hold rating in a report on Friday, August 9th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of Hold and an average price target of $3.75.

B2Gold Price Performance

B2Gold stock opened at $2.64 on Monday. The stock has a 50-day moving average price of $2.77. The stock has a market cap of $3.44 billion, a P/E ratio of -87.83, a price-to-earnings-growth ratio of 0.42 and a beta of 1.12. The company has a current ratio of 2.99, a quick ratio of 1.97 and a debt-to-equity ratio of 0.01. B2Gold has a 12 month low of $2.34 and a 12 month high of $3.46.

B2Gold Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 23rd. Stockholders of record on Tuesday, September 10th will be given a $0.04 dividend. The ex-dividend date is Tuesday, September 10th. This represents a $0.16 annualized dividend and a dividend yield of 6.07%. B2Gold’s payout ratio is -533.33%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in BTG. American Century Companies Inc. grew its position in shares of B2Gold by 39.4% in the 2nd quarter. American Century Companies Inc. now owns 12,284,484 shares of the company’s stock worth $33,053,000 after acquiring an additional 3,474,553 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of B2Gold in the 2nd quarter worth approximately $6,912,000. Equinox Partners Investment Management LLC grew its position in shares of B2Gold by 31.6% in the 2nd quarter. Equinox Partners Investment Management LLC now owns 6,032,986 shares of the company’s stock worth $16,185,000 after acquiring an additional 1,450,000 shares in the last quarter. Cubist Systematic Strategies LLC grew its position in shares of B2Gold by 133.8% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 1,977,354 shares of the company’s stock worth $5,334,000 after acquiring an additional 1,131,534 shares in the last quarter. Finally, Canada Pension Plan Investment Board grew its position in shares of B2Gold by 212.2% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,166,200 shares of the company’s stock worth $3,128,000 after acquiring an additional 792,700 shares in the last quarter. Institutional investors and hedge funds own 61.40% of the company’s stock.

About B2Gold

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.