B2Gold (TSE:BTO) Share Price Passes Above 200 Day Moving Average - Here's What Happened

Key Points

• B2Gold shares moved above their 200-day moving average, reaching C$7.82 before closing at C$7.60, compared with the C$6.47 200-day average.
• Analyst sentiment strengthened, with several firms upgrading the stock to Buy or Strong Buy ratings. The consensus rating is “Buy,” with an average price target of C$9.33.
• The company reported C$1.12 billion in quarterly revenue and C$0.04 in EPS, while maintaining a quarterly dividend equivalent to a 1.1% annual yield; insiders sold more than 536,000 shares during the quarter.

Shares of B2Gold Corp. (TSE:BTO - Get Free Report) NYSE: BTG passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$6.47 and traded as high as C$7.82. B2Gold shares last traded at C$7.60, with a volume of 3,533,687 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. ATB Cormark Capital Markets upgraded B2Gold from a "hold" rating to a "moderate buy" rating and raised their price objective for the stock from C$6.50 to C$11.00 in a research report on Monday, August 10th. TD upgraded B2Gold from a "hold" rating to a "buy" rating and upped their target price for the company from C$6.00 to C$8.50 in a report on Monday, August 10th. Scotiabank raised shares of B2Gold from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 10th. Scotia upgraded shares of B2Gold from a "sector perform" rating to a "sector outperform" rating and set a C$10.00 price target for the company in a report on Monday, August 10th. Finally, Canadian Imperial Bank of Commerce upgraded shares of B2Gold from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 10th. Three equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of C$9.33.

B2Gold Trading Down 3.2%

The company has a current ratio of 1.58, a quick ratio of 3.33 and a debt-to-equity ratio of 11.48. The firm has a 50-day moving average of C$6.13 and a 200 day moving average of C$6.47. The company has a market cap of C$10.13 billion, a P/E ratio of 13.57, a price-to-earnings-growth ratio of -0.27 and a beta of 1.74.

B2Gold (TSE:BTO - Get Free Report) NYSE: BTG last released its earnings results on Thursday, August 6th. The company reported C$0.04 EPS for the quarter. The business had revenue of C$1.12 billion during the quarter. B2Gold had a return on equity of 21.87% and a net margin of 21.20%. On average, analysts predict that B2Gold Corp. will post 0.5596659 earnings per share for the current fiscal year.

B2Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 23rd. Stockholders of record on Tuesday, June 23rd were given a dividend of $0.02 per share. The ex-dividend date of this dividend was Wednesday, June 10th. This represents a $0.08 annualized dividend and a dividend yield of 1.1%. B2Gold's dividend payout ratio (DPR) is 14.29%.

Insider Activity at B2Gold

In other news, insider Ninette Krohnert sold 4,700 shares of B2Gold stock in a transaction on Friday, July 3rd. The shares were sold at an average price of C$5.88, for a total value of C$27,636.00. Following the completion of the sale, the insider owned 62,557 shares in the company, valued at C$367,835.16. The trade was a 6.99% decrease in their position. Also, Director Jerry Korpan sold 200,000 shares of the business's stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of C$7.06, for a total transaction of C$1,412,000.00. Following the transaction, the director owned 2,280,000 shares in the company, valued at C$16,096,800. The trade was a 8.06% decrease in their position. Over the last quarter, insiders have sold 536,585 shares of company stock worth $3,652,521. Corporate insiders own 0.66% of the company's stock.

About B2Gold

B2Gold is a responsible international gold producer headquartered in Vancouver, Canada. Founded in 2007, today, B2Gold has operating gold mines in Canada, Mali, Namibia and the Philippines, and numerous development and exploration projects in various countries.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source