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

Key Points

• B2Gold Corp. shares reached a new 52-week high of $3.91, reflecting a trading volume of over 4.5 million shares, up from a previous close of $3.78.
• Analysts have positive sentiments towards B2Gold, with several upgrades in ratings; CIBC raised its price target to $4.00 while Raymond James set a target of $4.50, indicating bullish outlooks.
• The company recently declared a quarterly dividend of $0.02, translating to an annual yield of 2.1%, despite a negative dividend payout ratio of -22.86%.

B2Gold Corp. (NYSE:BTG - Get Free Report) shares hit a new 52-week high on Wednesday . The stock traded as high as $3.89 and last traded at $3.91, with a volume of 4539605 shares. The stock had previously closed at $3.78.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. National Bankshares reiterated an "outperform" rating on shares of B2Gold in a report on Wednesday, July 16th. Wall Street Zen upgraded shares of B2Gold from a "hold" rating to a "buy" rating in a report on Thursday, May 8th. CIBC reiterated a "neutral" rating and set a $4.00 price target (up previously from $3.60) on shares of B2Gold in a report on Tuesday, July 15th. Raymond James Financial upgraded shares of B2Gold to a "moderate buy" rating and set a $4.50 price target for the company in a report on Monday, June 30th. Finally, Cormark upgraded shares of B2Gold from a "hold" rating to a "moderate buy" rating in a report on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, four have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $4.31.

B2Gold Stock Performance

The stock has a market capitalization of $5.14 billion, a price-to-earnings ratio of -8.09, a PEG ratio of 0.33 and a beta of 0.39. The stock's 50 day moving average is $3.58 and its 200 day moving average is $3.16. The company has a current ratio of 1.83, a quick ratio of 1.08 and a debt-to-equity ratio of 0.07.

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

B2Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 23rd. Investors of record on Wednesday, September 10th will be issued a $0.02 dividend. The ex-dividend date is Wednesday, September 10th. This represents a $0.08 annualized dividend and a yield of 2.1%. B2Gold's dividend payout ratio (DPR) is presently -22.86%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of BTG. Pale Fire Capital SE grew its position in shares of B2Gold by 23.7% during the first quarter. Pale Fire Capital SE now owns 64,838,409 shares of the company's stock worth $184,789,000 after buying an additional 12,419,383 shares in the last quarter. Vanguard Group Inc. grew its position in shares of B2Gold by 2.1% during the first quarter. Vanguard Group Inc. now owns 54,099,978 shares of the company's stock worth $153,752,000 after buying an additional 1,089,501 shares in the last quarter. American Century Companies Inc. grew its position in shares of B2Gold by 12.1% during the second quarter. American Century Companies Inc. now owns 29,730,477 shares of the company's stock worth $107,397,000 after buying an additional 3,206,141 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of B2Gold by 0.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 24,389,363 shares of the company's stock worth $59,510,000 after buying an additional 130,638 shares in the last quarter. Finally, Two Sigma Advisers LP grew its position in shares of B2Gold by 15.7% during the fourth quarter. Two Sigma Advisers LP now owns 20,675,400 shares of the company's stock worth $50,448,000 after buying an additional 2,799,520 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.

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