Bank of America Issues Positive Forecast for B2Gold (TSE:BTO) Stock Price

Key Points

• Bank of America has increased its target price for B2Gold stock from C$5.35 to C$6.25, indicating a potential downside of 23.97% based on the stock's previous close.
• B2Gold has seen an upgrade to a "moderate buy" rating from Raymond James Financial and currently holds an average rating of "Hold" from analysts.
• Insiders, including John Alex Rajala and William Lytle, have sold a significant number of shares recently, reducing their ownership stake by 37.48% and 95.45%, respectively.

B2Gold (TSE:BTO - Get Free Report) NYSE: BTG had its target price hoisted by Bank of America from C$5.35 to C$6.25 in a report issued on Thursday,BayStreet.CA reports. Bank of America's price objective would suggest a potential downside of 23.97% from the stock's previous close.

Separately, Raymond James Financial upgraded B2Gold to a "moderate buy" rating in a research report on Monday, June 30th. One equities research 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 company's stock. Based on data from MarketBeat.com, B2Gold currently has an average rating of "Hold" and an average target price of C$6.63.

B2Gold Trading Up 3.5%

BTO traded up C$0.28 on Thursday, hitting C$8.22. The company had a trading volume of 6,343,848 shares, compared to its average volume of 3,914,318. The company has a market cap of C$10.87 billion, a PE ratio of -23.49, a PEG ratio of -0.27 and a beta of 0.82. B2Gold has a 12-month low of C$3.16 and a 12-month high of C$8.31. The company has a quick ratio of 3.33, a current ratio of 1.83 and a debt-to-equity ratio of 7.51. The business's fifty day simple moving average is C$6.15 and its 200 day simple moving average is C$5.14.

Insiders Place Their Bets

In other news, insider John Alex Rajala sold 142,857 shares of B2Gold stock in a transaction that occurred on Wednesday, October 8th. The shares were sold at an average price of C$7.50, for a total transaction of C$1,071,427.50. Following the completion of the sale, the insider owned 238,342 shares of the company's stock, valued at approximately C$1,787,565. The trade was a 37.48% decrease in their ownership of the stock. Also, insider William Lytle sold 817,121 shares of B2Gold stock in a transaction that occurred on Tuesday, October 7th. The shares were sold at an average price of C$7.33, for a total transaction of C$5,989,496.93. Following the sale, the insider directly owned 38,975 shares of the company's stock, valued at C$285,686.75. This represents a 95.45% decrease in their position. Insiders have sold 1,158,095 shares of company stock worth $8,435,290 over the last three months. 0.66% of the stock is currently owned by corporate 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.