Invenomic Capital Management LP Lowers Stake in B2Gold Corp. $BTG

Key Points

• Invenomic Capital Management LP reduced its stake in B2Gold Corp. by 21.9%, selling 243,995 shares, and now holds approximately 0.07% of the company valued at $2,487,000.
• B2Gold recently announced a quarterly dividend of $0.02 per share, representing a yield of 1.9%, set to be paid on September 23rd.
• Despite reporting a 40.5% increase in quarterly revenue, B2Gold's earnings per share fell short of analyst expectations, reporting $0.12 instead of the anticipated $0.13.

Invenomic Capital Management LP decreased its position in B2Gold Corp. (NYSE:BTG - Free Report) by 21.9% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 872,494 shares of the company's stock after selling 243,995 shares during the period. Invenomic Capital Management LP owned 0.07% of B2Gold worth $2,487,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Sumitomo Mitsui Trust Group Inc. purchased a new stake in shares of B2Gold in the first quarter valued at approximately $278,000. Tidal Investments LLC purchased a new stake in shares of B2Gold in the fourth quarter valued at approximately $183,000. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of B2Gold by 58.0% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 188,530 shares of the company's stock valued at $536,000 after purchasing an additional 69,177 shares during the period. Vanguard Group Inc. lifted its holdings in B2Gold by 2.1% during the first quarter. Vanguard Group Inc. now owns 54,099,978 shares of the company's stock worth $153,752,000 after buying an additional 1,089,501 shares during the period. Finally, US Bancorp DE lifted its holdings in B2Gold by 4,920.6% during the first quarter. US Bancorp DE now owns 74,606 shares of the company's stock worth $213,000 after buying an additional 73,120 shares during the period. Hedge funds and other institutional investors own 61.40% of the company's stock.

B2Gold Stock Performance

Shares of NYSE BTG traded up $0.09 during mid-day trading on Thursday, hitting $4.43. The stock had a trading volume of 22,315,163 shares, compared to its average volume of 41,369,574. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.08 and a current ratio of 1.83. The company has a 50 day moving average of $3.74 and a two-hundred day moving average of $3.38. B2Gold Corp. has a twelve month low of $2.20 and a twelve month high of $4.44. The firm has a market cap of $5.86 billion, a PE ratio of -9.24, a PEG ratio of 0.33 and a beta of 0.42.

B2Gold (NYSE:BTG - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate 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 last year, the company earned $0.06 earnings per share. The company's quarterly revenue was up 40.5% compared to the same quarter last year. Research analysts predict that B2Gold Corp. will post 0.4 EPS for the current fiscal year.

B2Gold Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 23rd. Shareholders of record on Wednesday, September 10th will be given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Wednesday, September 10th. B2Gold's dividend payout ratio (DPR) is currently -22.86%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on BTG shares. CIBC restated a "neutral" rating and set a $4.00 target price (up previously from $3.60) on shares of B2Gold in a report on Tuesday, July 15th. Raymond James Financial upgraded B2Gold to a "moderate buy" rating and set a $4.50 target price for the company in a report on Monday, June 30th. Zacks Research lowered B2Gold from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 13th. Finally, National Bankshares restated an "outperform" rating on shares of B2Gold in a report on Wednesday, July 16th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $4.31.

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.