Bank of New York Mellon Corp Lowers Stake 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 stake in shares of B2Gold Corp. (NYSE:BTG - Free Report) by 71.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor 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 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Cantor Fitzgerald L. P. purchased a new stake in shares of B2Gold during the 4th quarter valued at $25,000. Schonfeld Strategic Advisors LLC purchased a new stake in shares of B2Gold during the 4th quarter valued at $30,000. Kercheville Advisors LLC purchased a new position in B2Gold in the 1st quarter worth $31,000. Walker Asset Management LLC purchased a new position in B2Gold in the 1st quarter worth $32,000. Finally, Continuum Advisory LLC raised its position in B2Gold by 99.5% in the 1st quarter. Continuum Advisory LLC now owns 22,050 shares of the company's stock worth $63,000 after purchasing an additional 11,000 shares during the period. Hedge funds and other institutional investors own 61.40% of the company's stock.

Wall Street Analysts Forecast Growth

BTG has been the topic of a number of analyst reports. CIBC reiterated a "neutral" rating and issued a $4.00 target price (up previously from $3.60) on shares of B2Gold in a research report on Tuesday, July 15th. Scotiabank upgraded shares of B2Gold from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 14th. Raymond James Financial upgraded shares of B2Gold to a "moderate buy" rating and set a $4.50 target price on the stock in a research report on Monday, June 30th. Wall Street Zen upgraded shares of B2Gold from a "hold" rating to a "buy" rating in a research report on Thursday, May 8th. Finally, Cormark upgraded shares of B2Gold from a "hold" rating to a "moderate buy" rating in a research report on Tuesday, April 22nd. One 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, the stock currently has an average rating of "Hold" and an average price target of $4.31.

B2Gold Price Performance

Shares of B2Gold stock opened at $3.44 on Monday. The firm has a market cap of $4.55 billion, a PE ratio of -7.17, a price-to-earnings-growth ratio of 0.33 and a beta of 0.45. B2Gold Corp. has a 12-month low of $2.20 and a 12-month high of $3.83. The company has a quick ratio of 1.08, a current ratio of 1.83 and a debt-to-equity ratio of 0.07. The company's fifty day simple moving average is $3.55 and its two-hundred day simple moving average is $3.10.

B2Gold (NYSE:BTG - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $0.09 earnings per share for the quarter, beating analysts' consensus estimates of $0.08 by $0.01. B2Gold had a negative net margin of 33.12% and a positive return on equity of 5.65%. B2Gold's revenue was up 15.3% on a year-over-year basis. During the same quarter last year, the business posted $0.06 EPS. As a group, equities analysts expect that B2Gold Corp. will post 0.4 EPS for the current year.

B2Gold Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 24th. Stockholders of record on Wednesday, June 11th were paid a dividend of $0.02 per share. The ex-dividend date of this dividend was Wednesday, June 11th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 2.3%. B2Gold's payout ratio is presently -17.02%.

B2Gold 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.

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