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

Key Points

• B2Gold Corp. (NYSE:BTG) shares reached a new 52-week high of $4.05 during trading, reflecting strong investor interest with over 20.9 million shares traded.
• Equities analysts have mixed ratings for B2Gold, with a consensus rating of "Hold" and an average price target of $4.31, while recently upgraded ratings include a "moderate buy" from Raymond James.
• The company reported a 40.5% increase in revenue year-over-year, although it missed the earnings per share estimate by $0.01, reporting $0.12 EPS.

B2Gold Corp. (NYSE:BTG - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $4.05 and last traded at $4.05, with a volume of 20934122 shares traded. The stock had previously closed at $3.95.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Zacks Research downgraded shares of B2Gold from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 13th. CIBC restated 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. Wall Street Zen upgraded B2Gold from a "hold" rating to a "buy" rating in a report on Thursday, May 8th. National Bankshares reissued an "outperform" rating on shares of B2Gold in a research note on Wednesday, July 16th. Finally, Raymond James Financial upgraded B2Gold to a "moderate buy" rating and set a $4.50 target price on the stock in a research report on Monday, June 30th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, B2Gold currently has an average rating of "Hold" and a consensus price target of $4.31.

B2Gold Stock Performance

The company has a quick ratio of 1.08, a current ratio of 1.83 and a debt-to-equity ratio of 0.07. The firm has a 50-day moving average price of $3.65 and a 200 day moving average price of $3.29. The firm has a market capitalization of $5.46 billion, a PE ratio of -8.60, a price-to-earnings-growth ratio of 0.33 and a beta of 0.39.

B2Gold (NYSE:BTG - Get Free Report) last posted its 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 period last year, the business posted $0.06 EPS. The business's quarterly revenue was up 40.5% on a year-over-year basis. Research analysts expect 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. Stockholders of record on Wednesday, September 10th will be given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Wednesday, September 10th. B2Gold's dividend payout ratio is currently -22.86%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in BTG. Cantor Fitzgerald L. P. acquired a new stake in B2Gold in the 4th quarter valued at about $25,000. Independent Wealth Network Inc. purchased a new stake in shares of B2Gold during the first quarter worth approximately $28,000. Schonfeld Strategic Advisors LLC purchased a new stake in shares of B2Gold during the fourth quarter worth approximately $30,000. Kercheville Advisors LLC acquired a new stake in B2Gold in the first quarter valued at approximately $31,000. Finally, Walker Asset Management LLC purchased a new position in B2Gold in the first quarter worth approximately $32,000. 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.