B2Gold (TSE:BTO) Insider Sells C$1,268,680.40 in Stock

Key Points

• Insider selling: William Lytle sold 177,190 B2Gold shares for approximately C$1.27 million, reducing his direct position by 81.1% to 41,285 shares.
• Shares gained 3%: B2Gold stock rose to C$7.26, while the company reported quarterly revenue of C$1.12 billion and earnings of C$0.04 per share.
• Analyst sentiment improved: Several brokers upgraded B2Gold, including TD and Scotiabank to “strong-buy.” The stock has a consensus “Buy” rating and an average price target of C$9.33.

B2Gold Corp. (TSE:BTO - Get Free Report) NYSE: BTG insider William Lytle sold 177,190 shares of the business's stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of C$7.16, for a total value of C$1,268,680.40. Following the completion of the sale, the insider directly owned 41,285 shares in the company, valued at approximately C$295,600.60. The trade was a 81.10% decrease in their position.

William Lytle also recently made the following trade(s):

• On Friday, July 3rd, William Lytle sold 14,089 shares of B2Gold stock. The stock was sold at an average price of C$5.88, for a total value of C$82,843.32.

B2Gold Trading Up 3.0%

Shares of TSE BTO traded up C$0.21 during trading on Wednesday, reaching C$7.26. The stock had a trading volume of 2,675,076 shares, compared to its average volume of 6,163,337. The company has a debt-to-equity ratio of 11.48, a quick ratio of 3.33 and a current ratio of 1.58. The company has a market cap of C$9.59 billion, a P/E ratio of 12.96, a PEG ratio of -0.27 and a beta of 1.74. B2Gold Corp. has a fifty-two week low of C$5.02 and a fifty-two week high of C$8.60. The business's 50-day moving average price is C$5.70 and its 200-day moving average price is C$6.43.

B2Gold (TSE:BTO - Get Free Report) NYSE: BTG last posted its earnings results on Thursday, August 6th. The company reported C$0.04 earnings per share (EPS) for the quarter. The firm had revenue of C$1.12 billion for the quarter. B2Gold had a return on equity of 21.87% and a net margin of 21.20%. On average, equities research analysts predict that B2Gold Corp. will post 0.5596659 EPS for the current fiscal year.

B2Gold Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 23rd. Stockholders of record on Tuesday, June 23rd were given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Wednesday, June 10th. B2Gold's dividend payout ratio is currently 14.29%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on BTO shares. Canadian Imperial Bank of Commerce raised shares of B2Gold from a "hold" rating to a "strong-buy" rating in a research note on Monday. TD raised shares of B2Gold from a "hold" rating to a "buy" rating and raised their price target for the company from C$6.00 to C$8.50 in a research report on Monday. Scotiabank upgraded shares of B2Gold from a "hold" rating to a "strong-buy" rating in a research note on Monday. TD Securities raised B2Gold from a "hold" rating to a "strong-buy" rating in a research report on Monday. Finally, National Bank Financial reduced their price objective on B2Gold from C$10.70 to C$9.75 and set an "outperform" rating on the stock in a research note on Tuesday, July 14th. Three analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, B2Gold has a consensus rating of "Buy" and an average price target of C$9.33.

Key Stories Impacting B2Gold

Here are the key news stories impacting B2Gold this week:

• Positive Sentiment: Broad-based analyst upgrades: TD Securities raised B2Gold from “hold” to “strong-buy,” while Scotiabank also upgraded the shares to “strong-buy.” The unusually broad agreement among major Canadian brokers may reinforce investor confidence. Zacks analyst upgrade report
• Positive Sentiment: Higher TD valuation: TD previously raised its rating to “buy” and increased its price target to C$8.50 from C$6.00, implying meaningful upside based on the reference price at the time. BayStreet analyst ratings report
• Positive Sentiment: Scotiabank sees greater upside: Scotia upgraded B2Gold from “sector perform” to “sector outperform” and set a C$10.00 target, substantially above the recent trading level. BayStreet Scotia upgrade report
• Positive Sentiment: ATB issued the most bullish target: ATB Cormark upgraded the stock from “hold” to “moderate buy” and lifted its target to C$11.00 from C$6.50. Its subsequent rating update adds to the positive broker momentum. American Banking News ATB Cormark upgrade
• Positive Sentiment: Additional confirmation: CIBC also upgraded B2Gold from “hold” to “strong-buy,” adding another bullish institutional view. Ticker Report CIBC upgrade

B2Gold Company Profile

B2Gold is a responsible international gold producer headquartered in Vancouver, Canada. Founded in 2007, today, B2Gold has operating gold mines in Canada, Mali, Namibia and the Philippines, and numerous development and exploration projects in various countries.

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