B2Gold (NYSEAMERICAN:BTG) Stock Price Crosses Below 200 Day Moving Average - Here's Why

Key Points

• B2Gold shares fell below their 200-day moving average, trading as low as $4.51 and last changing hands at $4.60 on heavy volume of more than 32 million shares.
• Analysts remain broadly positive, with an average “Buy” rating and a consensus price target of $6.81; recent targets range from $6.00 to $7.50.
• The company reported quarterly EPS of $0.03, missing the $0.07 consensus estimate, while revenue of $789.35 million also came in below expectations despite increasing 14% year over year.

B2Gold Corp (NYSEAMERICAN:BTG - Get Free Report) TSE: BTO's stock price passed below its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of $4.83 and traded as low as $4.51. B2Gold shares last traded at $4.60, with a volume of 32,188,218 shares traded.

Wall Street Analyst Weigh In

BTG has been the topic of a number of recent research reports. Raymond James Financial raised their target price on B2Gold from $7.25 to $7.50 and gave the company an "outperform" rating in a report on Friday, September 4th. Royal Bank Of Canada lifted their price target on shares of B2Gold from $5.00 to $6.25 and gave the stock a "sector perform" rating in a report on Wednesday, September 16th. Jefferies Financial Group dropped their price objective on shares of B2Gold from $7.00 to $6.00 and set a "buy" rating on the stock in a report on Monday, July 6th. Scotiabank upgraded B2Gold from a "sector perform" rating to a "sector outperform" rating in a research report on Monday, August 10th. Finally, Canadian Imperial Bank of Commerce raised shares of B2Gold from a "hold" rating to an "outperform" rating and set a $7.50 price objective for the company in a research note on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, B2Gold currently has an average rating of "Buy" and a consensus price target of $6.81.

B2Gold Price Performance

The company has a debt-to-equity ratio of 0.11, a current ratio of 1.58 and a quick ratio of 0.58. The firm's 50 day simple moving average is $5.29 and its two-hundred day simple moving average is $4.83. The firm has a market capitalization of $6.07 billion, a P/E ratio of 8.36, a P/E/G ratio of 0.29 and a beta of 0.70.

B2Gold (NYSEAMERICAN:BTG - Get Free Report) TSE: BTO last posted its quarterly earnings results on Thursday, August 6th. The basic materials company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.04). B2Gold had a return on equity of 17.05% and a net margin of 21.47%. The company had revenue of $789.35 million for the quarter, compared to the consensus estimate of $836.33 million. During the same quarter in the previous year, the business earned $0.12 earnings per share. B2Gold's revenue was up 14.0% compared to the same quarter last year. As a group, analysts predict that B2Gold Corp will post 0.55 earnings per share for the current year.

Hedge Funds Weigh In On B2Gold

Several hedge funds have recently made changes to their positions in BTG. Pale Fire Capital SE increased its position in shares of B2Gold by 77.4% during the first quarter. Pale Fire Capital SE now owns 69,740,133 shares of the basic materials company's stock valued at $315,923,000 after acquiring an additional 30,428,530 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of B2Gold by 4.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 33,477,302 shares of the basic materials company's stock valued at $151,630,000 after purchasing an additional 1,315,923 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in B2Gold during the second quarter valued at approximately $107,805,000. Deutsche Bank AG purchased a new position in B2Gold during the second quarter valued at $63,960,000. Finally, Bank of America Corp DE grew its stake in shares of B2Gold by 9.9% during the 1st quarter. Bank of America Corp DE now owns 12,049,614 shares of the basic materials company's stock valued at $54,585,000 after acquiring an additional 1,088,119 shares during the period. 61.40% of the stock is owned by hedge funds and other institutional investors.

About B2Gold

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.