B2Gold (NYSE:BTG) Hits New 1-Year High - What's Next?

Key Points

• B2Gold Corp. shares reached a new 52-week high, trading at $3.83, with over 24 million shares exchanged during the session.
• Several analysts upgraded their ratings for B2Gold, with Scotiabank moving it from "hold" to "strong-buy" and CIBC raising its price target to $4.00.
• B2Gold recently declared a quarterly dividend of $0.02 per share, reflecting an annualized yield of 2.1% and a payout ratio of -17.02%.

B2Gold Corp. (NYSE:BTG - Get Free Report) shares hit a new 52-week high during trading on Thursday . The company traded as high as $3.83 and last traded at $3.80, with a volume of 24081521 shares trading hands. The stock had previously closed at $3.76.

Analyst Upgrades and Downgrades

Several brokerages recently commented on BTG. Scotiabank raised B2Gold from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 14th. Raymond James Financial raised B2Gold to a "moderate buy" rating and set a $4.50 target price on the stock in a research report on Monday, June 30th. Wall Street Zen raised B2Gold from a "hold" rating to a "buy" rating in a research report on Thursday, May 8th. Cormark raised B2Gold from a "hold" rating to a "moderate buy" rating in a research report on Tuesday, April 22nd. Finally, CIBC reissued a "neutral" rating and set a $4.00 price target (up previously from $3.60) on shares of B2Gold in a research report on Tuesday, July 15th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, B2Gold has an average rating of "Hold" and a consensus target price of $4.31.

B2Gold Price Performance

The business's fifty day simple moving average is $3.58 and its 200-day simple moving average is $3.15. The company has a current ratio of 1.83, a quick ratio of 1.08 and a debt-to-equity ratio of 0.07. The firm has a market cap of $4.76 billion, a P/E ratio of -7.50, a PEG ratio of 0.33 and a beta of 0.39.

B2Gold (NYSE:BTG - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.12 earnings per share 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 in the previous year, the firm posted $0.06 EPS. The company's revenue for the quarter was up 40.5% compared to the same quarter last year. As a group, analysts forecast that B2Gold Corp. will post 0.4 EPS for the current fiscal year.

Hedge Funds Weigh In On B2Gold

Hedge funds and other institutional investors have recently modified their holdings of the business. Cantor Fitzgerald L. P. purchased a new stake in shares of B2Gold during the 4th quarter worth approximately $25,000. Independent Wealth Network Inc. bought a new stake in B2Gold in the first quarter valued at $28,000. Schonfeld Strategic Advisors LLC purchased a new position in B2Gold in the 4th quarter worth about $30,000. Kercheville Advisors LLC bought a new stake in shares of B2Gold in the 1st quarter valued at approximately $31,000. Finally, Walker Asset Management LLC acquired a new position in shares of B2Gold in the first quarter valued at $32,000. 61.40% of the stock is owned by hedge funds and other institutional investors.

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.