B2Gold (TSE:BTO) Reaches New 52-Week High - What's Next?

Key Points

• B2Gold shares reached a new 52-week high of C$7.44 during trading, marking a significant increase from its previous close of C$7.08.
• Raymond James Financial upgraded B2Gold to a "moderate buy" rating, while the consensus rating remains a "Hold" with an average target price of C$6.75.
• The company recently announced a quarterly dividend of $0.02 per share, resulting in an annualized yield of 1.1%, alongside an insider selling 51,117 shares in recent transactions.

B2Gold Corp. (TSE:BTO - Get Free Report) NYSE: BTG shares hit a new 52-week high during trading on Monday . The company traded as high as C$7.44 and last traded at C$7.37, with a volume of 2124035 shares. The stock had previously closed at C$7.08.

Analyst Upgrades and Downgrades

Separately, Raymond James Financial upgraded shares of B2Gold to a "moderate buy" rating in a research note on Monday, June 30th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, B2Gold has a consensus rating of "Hold" and an average target price of C$6.75.

B2Gold Trading Up 5.2%

The business's 50-day moving average price is C$5.74 and its two-hundred day moving average price is C$4.98. The company has a market capitalization of C$9.86 billion, a P/E ratio of -21.29, a PEG ratio of -0.27 and a beta of 0.82. The company has a debt-to-equity ratio of 7.51, a current ratio of 1.83 and a quick ratio of 3.33.

B2Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 23rd. Investors of record on Tuesday, September 23rd were given a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Wednesday, September 10th. B2Gold's payout ratio is currently -34.29%.

Insider Buying and Selling at B2Gold

In related news, insider Randall Chatwin sold 7,000 shares of the business's stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of C$5.33, for a total value of C$37,310.00. Following the sale, the insider directly owned 40,199 shares of the company's stock, valued at approximately C$214,260.67. The trade was a 14.83% decrease in their position. Also, insider Peter Dominic Montano sold 44,102 shares of the business's stock in a transaction on Thursday, August 14th. The shares were sold at an average price of C$5.35, for a total transaction of C$235,945.70. Following the completion of the sale, the insider directly owned -1,405 shares in the company, valued at C($7,516.75). This represents a 103.29% decrease in their ownership of the stock. Insiders sold a total of 51,117 shares of company stock worth $273,336 over the last ninety days. 0.66% of the stock is currently owned by insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.