B2Gold (NYSE:BTG) Hits New 52-Week High - Here's What Happened

Key Points

• B2Gold Corp. shares reached a new 52-week high of $5.07 during trading, closing at $5.03 with a trading volume of nearly 2.8 million shares.
• Analysts have mixed opinions on B2Gold, with ratings varying from "strong buy" to "sell", while the consensus target price stands at $4.50.
• The company recently declared a quarterly dividend of $0.02 per share, translating to an annual yield of 1.6%, despite a negative payout ratio.

B2Gold Corp. (NYSE:BTG - Get Free Report) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as $5.07 and last traded at $5.03, with a volume of 2786879 shares trading hands. The stock had previously closed at $4.92.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on BTG shares. National Bankshares reissued an "outperform" rating on shares of B2Gold in a research note on Wednesday, July 16th. CIBC restated a "neutral" rating and issued a $4.00 price objective (up from $3.60) on shares of B2Gold in a report on Tuesday, July 15th. Zacks Research downgraded B2Gold from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 13th. Finally, Raymond James Financial upgraded B2Gold to a "moderate buy" rating and set a $4.50 price objective for the company in a report on Monday, June 30th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $4.50.

B2Gold Price Performance

The firm has a market capitalization of $6.62 billion, a P/E ratio of -10.41, a P/E/G ratio of 0.33 and a beta of 0.42. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.83 and a quick ratio of 1.08. The stock's fifty day simple moving average is $4.00 and its 200 day simple moving average is $3.54.

B2Gold (NYSE:BTG - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $0.12 EPS for the quarter, missing analysts' consensus estimates of $0.13 by ($0.01). B2Gold had a positive return on equity of 5.65% and a negative net margin of 33.12%.B2Gold's revenue was up 40.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.06 earnings per share. On average, equities research analysts predict that B2Gold Corp. will post 0.4 EPS for the current year.

B2Gold Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 23rd. Shareholders of record on Wednesday, September 10th were issued a $0.02 dividend. The ex-dividend date was Wednesday, September 10th. This represents a $0.08 dividend on an annualized basis and a yield of 1.6%. B2Gold's payout ratio is currently -22.86%.

Hedge Funds Weigh In On B2Gold

Hedge funds have recently modified their holdings of the stock. Independent Wealth Network Inc. acquired a new position in shares of B2Gold during the first quarter valued at about $28,000. Kercheville Advisors LLC acquired a new position in shares of B2Gold during the first quarter valued at about $31,000. Walker Asset Management LLC acquired a new position in shares of B2Gold during the first quarter valued at about $32,000. Steward Partners Investment Advisory LLC increased its holdings in shares of B2Gold by 875.0% during the second quarter. Steward Partners Investment Advisory LLC now owns 9,750 shares of the company's stock valued at $35,000 after acquiring an additional 8,750 shares in the last quarter. Finally, International Assets Investment Management LLC acquired a new position in shares of B2Gold during the second quarter valued at about $36,000. Institutional investors and hedge funds 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.

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