B2Gold (NYSE:BTG) Shares Down 2.7% - Here's What Happened

B2Gold Corp. (NYSE:BTG - Get Free Report) dropped 2.7% on Monday . The company traded as low as $3.01 and last traded at $3.00. Approximately 4,010,331 shares changed hands during trading, a decline of 82% from the average daily volume of 21,756,975 shares. The stock had previously closed at $3.08.

Wall Street Analyst Weigh In

BTG has been the subject of a number of recent analyst reports. CIBC raised their price objective on B2Gold from $3.30 to $3.60 and gave the company a "neutral" rating in a research note on Thursday, March 20th. National Bankshares reaffirmed an "outperform" rating on shares of B2Gold in a report on Wednesday, April 2nd. Raymond James reaffirmed an "outperform" rating and issued a $4.50 price objective on shares of B2Gold in a report on Friday, April 4th. Bank of America lowered shares of B2Gold from a "buy" rating to an "underperform" rating in a research report on Tuesday, January 14th. Finally, Scotiabank upgraded shares of B2Gold from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 14th. One analyst has rated the stock with a sell rating, five have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, B2Gold has a consensus rating of "Hold" and an average price target of $4.21.

B2Gold Stock Performance

The stock has a market cap of $4.03 billion, a P/E ratio of -6.36, a price-to-earnings-growth ratio of 0.33 and a beta of 0.93. The firm's 50-day moving average is $2.97 and its two-hundred day moving average is $2.82. The company has a quick ratio of 1.08, a current ratio of 1.83 and a debt-to-equity ratio of 0.07.

B2Gold Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, March 7th were given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 2.62%. The ex-dividend date was Friday, March 7th. B2Gold's payout ratio is presently -16.67%.

Hedge Funds Weigh In On B2Gold

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Sumitomo Mitsui Trust Group Inc. bought a new position in shares of B2Gold in the first quarter valued at approximately $278,000. U S Global Investors Inc. bought a new stake in B2Gold during the first quarter valued at about $1,211,000. Jaffetilchin Investment Partners LLC bought a new stake in B2Gold during the first quarter valued at about $95,000. Continuum Advisory LLC boosted its holdings in B2Gold by 99.5% during the first quarter. Continuum Advisory LLC now owns 22,050 shares of the company's stock valued at $63,000 after acquiring an additional 11,000 shares during the period. Finally, Cambridge Investment Research Advisors Inc. boosted its holdings in B2Gold by 58.0% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 188,530 shares of the company's stock valued at $536,000 after acquiring an additional 69,177 shares during the period. 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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