B2Gold (TSE:BTO) Hits New 1-Year High - Here's Why

Key Points

• B2Gold Corp.'s stock reached a new 52-week high of C$7.52, closing at C$7.48, following a trading volume of over 3 million shares.
• Raymond James Financial upgraded B2Gold to a "moderate buy" rating, while the overall consensus rating remains at "Hold" with a price target of C$6.75.
• Insider selling has been significant, with one insider reducing their stake by over 100% after selling 147,000 shares valued at over C$1 million in the past few months.

B2Gold Corp. (TSE:BTO - Get Free Report) NYSE: BTG's share price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as C$7.52 and last traded at C$7.48, with a volume of 3426301 shares. The stock had previously closed at C$7.12.

Wall Street Analyst Weigh In

Separately, Raymond James Financial raised shares of B2Gold to a "moderate buy" rating in a report on Monday, June 30th. One analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of C$6.75.

B2Gold Stock Up 5.8%

The company has a current ratio of 1.83, a quick ratio of 3.33 and a debt-to-equity ratio of 7.51. The stock has a market capitalization of C$9.96 billion, a P/E ratio of -21.51, a P/E/G ratio of -0.27 and a beta of 0.82. The business has a 50-day moving average price of C$6.05 and a 200 day moving average price of C$5.10.

B2Gold Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 23rd. Investors of record on Tuesday, September 23rd were given 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 1.1%. B2Gold's dividend payout ratio (DPR) is currently -34.29%.

Insider Buying and Selling

In related news, insider Peter Dominic Montano sold 147,000 shares of the firm's stock in a transaction on Wednesday, October 8th. The stock was sold at an average price of C$7.49, for a total value of C$1,101,030.00. Following the completion of the sale, the insider directly owned -1,405 shares in the company, valued at C($10,523.45). This trade represents a 100.97% decrease in their ownership of the stock. Also, insider William Lytle sold 817,121 shares of the firm's stock in a transaction on Tuesday, October 7th. The stock was sold at an average price of C$7.33, for a total value of C$5,989,496.93. Following the completion of the sale, the insider owned 38,975 shares of the company's stock, valued at approximately C$285,686.75. This represents a 95.45% decrease in their ownership of the stock. Insiders have sold 1,158,095 shares of company stock valued at $8,435,290 in the last three months. Corporate insiders own 0.66% of the company's stock.

B2Gold Company Profile

B2Gold Corp is an international, low-cost, senior gold mining company. It has three operating open-pit gold mines in Mali, Namibia, and the Philippines and numerous exploration projects across four continents. Other significant assets include the Gramalote and Kiaka gold projects. The company focuses on acquiring and developing interests in mineral properties with a primary focus on gold deposits as gold production forms all its revenue.

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