B2Gold (TSE:BTO) Shares Cross Above 200 Day Moving Average - What's Next?

Key Points

• B2Gold shares rose above their 200-day moving average of C$6.71, reaching C$7.17 and last trading at C$7.15.
• Analyst sentiment is positive: the stock has a consensus Buy rating and a C$9.95 price target, with several firms recently upgrading their ratings.
• The company reported quarterly earnings of C$0.20 per share on C$1.19 billion in revenue and paid a quarterly dividend of C$0.02 per share.

B2Gold Corp. (TSE:BTO - Get Free Report) NYSE: BTG shares passed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of C$6.71 and traded as high as C$7.17. B2Gold shares last traded at C$7.15, with a volume of 4,812,762 shares.

Wall Street Analyst Weigh In

BTO has been the topic of a number of research analyst reports. TD upgraded B2Gold from a "hold" rating to a "buy" rating and upped their target price for the stock from C$6.00 to C$8.50 in a report on Monday, August 10th. National Bank Financial lowered their target price on B2Gold from C$10.70 to C$9.75 and set an "outperform" rating for the company in a research note on Tuesday, July 14th. Scotiabank upgraded B2Gold from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 10th. Scotia upgraded B2Gold from a "sector perform" rating to a "sector outperform" rating and set a C$10.00 price target on the stock in a research report on Monday, August 10th. Finally, ATB Cormark Capital Markets raised B2Gold from a "hold" rating to a "moderate buy" rating and upped their price target for the stock from C$6.50 to C$11.00 in a research note on Monday, August 10th. Three analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of C$9.95.

B2Gold Stock Performance

The company has a market capitalization of C$9.45 billion, a PE ratio of 12.77, a PEG ratio of -0.27 and a beta of 1.86. The business's 50-day moving average is C$7.36 and its 200-day moving average is C$6.71. The company has a debt-to-equity ratio of 11.48, a quick ratio of 3.33 and a current ratio of 1.58.

B2Gold (TSE:BTO - Get Free Report) NYSE: BTG last posted its quarterly earnings results on Wednesday, November 4th. The company reported C$0.20 earnings per share for the quarter. B2Gold had a return on equity of 21.87% and a net margin of 21.20%. The company had revenue of C$1.19 billion for the quarter. On average, research analysts anticipate that B2Gold Corp. will post 0.56 earnings per share for the current year.

B2Gold Announces Dividend

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

Insider Transactions at B2Gold

In other news, Director Jerry Korpan sold 200,000 shares of the company's stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of C$7.06, for a total value of C$1,412,000.00. Following the transaction, the director owned 2,280,000 shares in the company, valued at approximately C$16,096,800. This represents a 8.06% decrease in their ownership of the stock. Also, insider William Lytle sold 177,190 shares of the company's stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of C$7.16, for a total transaction of C$1,268,680.40. Following the completion of the transaction, the insider owned 41,285 shares in the company, valued at approximately C$295,600.60. This represents a 81.10% decrease in their position. 0.66% of the stock is currently owned by company insiders.

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.

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