Bank of New York Mellon Corp Lowers Stock Position in B2Gold Corp. (NYSE:BTG)

Key Points

• Bank of New York Mellon Corp reduced its stake in B2Gold Corp by 71.1%, selling 388,116 shares, bringing its total holdings to 158,140 shares worth $451,000 at the end of the first quarter.
• Various institutional investors have made movements with B2Gold, including new stakes from Cantor Fitzgerald and Schonfeld Strategic Advisors, and a significant increase of 99.5% in holdings by Continuum Advisory LLC.
• Analysts have mixed views on B2Gold, with ratings ranging from "sell" to "strong buy", while the stock has an average price target of $4.31 and a current price of $3.44.

Bank of New York Mellon Corp lowered its position in B2Gold Corp. (NYSE:BTG - Free Report) by 71.1% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 158,140 shares of the company's stock after selling 388,116 shares during the quarter. Bank of New York Mellon Corp's holdings in B2Gold were worth $451,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in BTG. Vanguard Group Inc. boosted its stake in shares of B2Gold by 2.2% during the fourth quarter. Vanguard Group Inc. now owns 53,010,477 shares of the company's stock valued at $129,823,000 after purchasing an additional 1,165,204 shares during the period. JPMorgan Chase & Co. boosted its holdings in B2Gold by 210.7% in the fourth quarter. JPMorgan Chase & Co. now owns 1,608,343 shares of the company's stock worth $3,924,000 after acquiring an additional 1,090,768 shares in the last quarter. Norges Bank purchased a new stake in B2Gold during the 4th quarter valued at about $40,192,000. Pictet Asset Management Holding SA increased its position in shares of B2Gold by 7.9% during the fourth quarter. Pictet Asset Management Holding SA now owns 269,955 shares of the company's stock valued at $661,000 after acquiring an additional 19,709 shares in the last quarter. Finally, Alliancebernstein L.P. grew its stake in shares of B2Gold by 20.4% in the fourth quarter. Alliancebernstein L.P. now owns 163,503 shares of the company's stock worth $399,000 after acquiring an additional 27,720 shares during the period. Hedge funds and other institutional investors own 61.40% of the company's stock.

B2Gold Trading Down 6.4%

Shares of NYSE:BTG traded down $0.25 during midday trading on Friday, reaching $3.59. The company's stock had a trading volume of 36,413,807 shares, compared to its average volume of 42,525,035. The firm has a market capitalization of $4.74 billion, a price-to-earnings ratio of -7.47, a PEG ratio of 0.33 and a beta of 0.39. The firm has a 50 day moving average price of $3.57 and a two-hundred day moving average price of $3.13. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.08 and a current ratio of 1.83. B2Gold Corp. has a fifty-two week low of $2.20 and a fifty-two week high of $3.84.

B2Gold (NYSE:BTG - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.12 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.13 by ($0.01). B2Gold had a negative net margin of 33.12% and a positive return on equity of 5.65%. During the same period in the prior year, the company posted $0.06 earnings per share. The business's quarterly revenue was up 40.5% compared to the same quarter last year. As a group, analysts forecast that B2Gold Corp. will post 0.4 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on BTG. Raymond James Financial raised shares of B2Gold to a "moderate buy" rating and set a $4.50 price target for the company in a research note on Monday, June 30th. Scotiabank upgraded B2Gold from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 14th. National Bankshares reaffirmed an "outperform" rating on shares of B2Gold in a research note on Wednesday, July 16th. Wall Street Zen upgraded shares of B2Gold from a "hold" rating to a "buy" rating in a report on Thursday, May 8th. Finally, Cormark raised B2Gold from a "hold" rating to a "moderate buy" rating in a report on Tuesday, April 22nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, B2Gold presently has an average rating of "Hold" and a consensus target price of $4.31.

B2Gold Company Profile

B2Gold Corp. operates as a gold producer company. It operates the Fekola Mine in Mali, the Masbate Mine in the Philippines, and the Otjikoto Mine in Namibia. The company also has an 100% interest in the Gramalote gold project in Colombia; 24% interest in the Calibre Mining Corp.; and approximately 19% interest in BeMetals Corp.