B2Gold (NYSEAMERICAN:BTG) Shares Break Below Fifty Day Moving Average - Here's What Happened

Key Points

• B2Gold shares fell 7.2%, trading as low as $4.86 and closing near $4.87, below the 50-day moving average of $5.34 on heavy volume.
• Analysts remain broadly bullish, with a consensus “Buy” rating and an average price target of $6.81; several firms recently upgraded the stock, though Jefferies lowered its target to $6.00.
• The company’s latest quarterly results missed expectations, reporting $0.03 in EPS versus $0.07 expected and revenue of $789.35 million versus an $836.33 million consensus estimate, despite 14% year-over-year revenue growth.

B2Gold Corp (NYSEAMERICAN:BTG - Get Free Report) TSE: BTO's share price crossed below its 50-day moving average during trading on Thursday. The stock has a 50-day moving average of $5.34 and traded as low as $4.86. B2Gold shares last traded at $4.87, with a volume of 23,078,843 shares trading hands.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on BTG shares. ATB Cormark Capital Markets upgraded shares of B2Gold from a "hold" rating to a "moderate buy" rating in a research note on Monday, August 10th. TD Securities upgraded shares of B2Gold from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 10th. Jefferies Financial Group cut their price objective on shares of B2Gold from $7.00 to $6.00 and set a "buy" rating for the company in a report on Monday, July 6th. Scotiabank upgraded shares of B2Gold from a "sector perform" rating to a "sector outperform" rating in a research report on Monday, August 10th. Finally, Royal Bank Of Canada increased their target price on shares of B2Gold from $5.00 to $6.25 and gave the stock a "sector perform" rating in a research report on Wednesday, September 16th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $6.81.

B2Gold Trading Down 7.2%

The stock has a market capitalization of $6.42 billion, a P/E ratio of 8.85, a P/E/G ratio of 0.32 and a beta of 0.70. The company has a current ratio of 1.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.11. The business has a 50-day moving average price of $5.34 and a two-hundred day moving average price of $4.73.

B2Gold (NYSEAMERICAN:BTG - Get Free Report) TSE: BTO last issued its quarterly earnings results on Thursday, August 6th. The basic materials company reported $0.03 EPS for the quarter, missing analysts' consensus estimates of $0.07 by ($0.04). The company had revenue of $789.35 million during the quarter, compared to the consensus estimate of $836.33 million. B2Gold had a return on equity of 17.05% and a net margin of 21.47%. The firm's revenue for the quarter was up 14.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.12 EPS. On average, analysts expect that B2Gold Corp will post 0.52 EPS for the current fiscal year.

Hedge Funds Weigh In On B2Gold

Several hedge funds have recently bought and sold shares of the company. Two Sigma Securities LLC increased its holdings in B2Gold by 341.9% in the 2nd quarter. Two Sigma Securities LLC now owns 236,275 shares of the basic materials company's stock valued at $884,000 after buying an additional 182,811 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of B2Gold by 6.9% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 288,790 shares of the basic materials company's stock worth $1,080,000 after acquiring an additional 18,536 shares during the period. Jefferies Financial Group Inc. bought a new stake in shares of B2Gold during the 2nd quarter worth approximately $1,524,000. Public Employees Retirement System of Ohio acquired a new stake in shares of B2Gold during the 2nd quarter worth approximately $4,728,000. Finally, Capstone Investment Advisors LLC acquired a new stake in shares of B2Gold during the 2nd quarter worth approximately $731,000. 61.40% of the stock is owned by institutional investors.

B2Gold Company Profile

B2Gold Corp. is a Canadian gold mining company engaged in the acquisition, development and operation of gold mines and exploration properties. The company's activities include mineral exploration, mine development, ore processing and the production and sale of gold.

B2Gold's principal producing assets have included the Fekola Complex in Mali and the Masbate Mine in the Philippines. The company has also operated the Otjikoto Mine in Namibia and has pursued additional growth through exploration and project development in several jurisdictions.

Founded in 2007 and headquartered in Vancouver, British Columbia, B2Gold expanded from an exploration-focused business into an international gold producer.

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