B2Gold (TSE:BTO) Stock Price Passes Above 200 Day Moving Average - Here's What Happened

Key Points

• B2Gold shares crossed above their 200-day moving average, reaching C$7.65 and closing near C$7.61, compared with a 200-day average of C$6.43.
• Analyst sentiment improved substantially, with several firms upgrading the stock to Buy or Strong Buy. MarketBeat reports a consensus “Buy” rating and an average price target of C$9.33.
• The company reported C$1.12 billion in quarterly revenue and C$0.04 in EPS, while maintaining a quarterly dividend of C$0.02 per share, equivalent to a 1.1% annualized yield.

B2Gold Corp. (TSE:BTO - Get Free Report) NYSE: BTG crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$6.43 and traded as high as C$7.65. B2Gold shares last traded at C$7.61, with a volume of 8,513,484 shares changing hands.

Wall Street Analyst Weigh In

BTO has been the subject of several analyst reports. ATB Cormark Capital Markets upgraded B2Gold from a "hold" rating to a "moderate buy" rating and boosted their target price for the stock from C$6.50 to C$11.00 in a report on Monday, August 10th. Scotia raised B2Gold from a "sector perform" rating to a "sector outperform" rating and set a C$10.00 target price for the company in a research report on Monday, August 10th. Canadian Imperial Bank of Commerce upgraded B2Gold from a "hold" rating to a "strong-buy" rating in a report on Monday, August 10th. TD raised shares of B2Gold from a "hold" rating to a "buy" rating and lifted their price target for the company from C$6.00 to C$8.50 in a research report on Monday, August 10th. Finally, Scotiabank upgraded shares of B2Gold from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 10th. Three research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, B2Gold presently has a consensus rating of "Buy" and an average price target of C$9.33.

B2Gold Price Performance

The company has a market capitalization of C$10.14 billion, a P/E ratio of 13.59, a PEG ratio of -0.27 and a beta of 1.74. The stock's fifty day simple moving average is C$5.92 and its 200-day simple moving average is C$6.43. The company has a debt-to-equity ratio of 11.48, a current ratio of 1.58 and a quick ratio of 3.33.

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

B2Gold Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 23rd. Shareholders of record on Tuesday, June 23rd were issued a $0.02 dividend. The ex-dividend date of this dividend was Wednesday, June 10th. This represents a $0.08 dividend on an annualized basis and a yield of 1.1%. B2Gold's dividend payout ratio (DPR) is 14.29%.

Insider Buying and Selling

In other news, Director Michael Andrew Cinnamond sold 14,089 shares of the stock in a transaction that occurred on Friday, July 3rd. The stock was sold at an average price of C$5.88, for a total value of C$82,843.32. Following the completion of the sale, the director directly owned 315,371 shares of the company's stock, valued at approximately C$1,854,381.48. This represents a 4.28% decrease in their ownership of the stock. Also, insider William Lytle sold 177,190 shares of the 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 of the company's stock, valued at C$295,600.60. This represents a 81.10% decrease in their ownership of the stock. Over the last quarter, insiders sold 536,585 shares of company stock worth $3,652,521. 0.66% of the stock is currently owned by company insiders.

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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