B2Gold (TSE:BTO) Stock Crosses Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• B2Gold shares climbed above their 200-day moving average of C$6.50, reaching C$7.27 before closing at C$7.12 on strong trading volume.
• Analysts became more bullish, with several brokerages upgrading the stock to Buy or Strong Buy. MarketBeat reports a consensus Buy rating and an average price target of C$9.33.
• B2Gold reported quarterly revenue of C$1.12 billion and earnings of C$0.04 per share, while maintaining a quarterly dividend of $0.02, equivalent to a 1.1% annual yield. Two insiders also sold substantial shareholdings in August.

B2Gold Corp. (TSE:BTO - Get Free Report) NYSE: BTG's share price crossed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of C$6.50 and traded as high as C$7.27. B2Gold shares last traded at C$7.12, with a volume of 2,875,574 shares traded.

Analyst Ratings Changes

Several brokerages have recently issued reports on BTO. Scotia upgraded B2Gold from a "sector perform" rating to a "sector outperform" rating and set a C$10.00 price objective on the stock in a research note on Monday, August 10th. Scotiabank raised B2Gold from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 10th. Canadian Imperial Bank of Commerce upgraded B2Gold from a "hold" rating to a "strong-buy" rating in a report on Monday, August 10th. TD raised B2Gold from a "hold" rating to a "buy" rating and increased their price target for the company from C$6.00 to C$8.50 in a research report on Monday, August 10th. Finally, TD Securities upgraded B2Gold from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 10th. Three investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of C$9.33.

B2Gold Stock Down 3.7%

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 company has a market cap of C$9.41 billion, a price-to-earnings ratio of 12.71, a PEG ratio of -0.27 and a beta of 1.86. The firm's fifty day simple moving average is C$7.23 and its 200 day simple moving average is C$6.50.

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

B2Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 23rd. Shareholders of record on Wednesday, September 23rd were paid a $0.02 dividend. The ex-dividend date was Thursday, September 10th. This represents a $0.08 dividend on an annualized basis and a yield of 1.1%. B2Gold's dividend payout ratio (DPR) is currently 14.29%.

Insiders Place Their Bets

In other news, insider William Lytle sold 177,190 shares of the company's stock in a transaction dated 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 directly owned 41,285 shares of the company's stock, valued at approximately C$295,600.60. This represents a 81.10% decrease in their position. Also, Director Jerry Korpan sold 200,000 shares of the stock in a transaction dated 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 completion of the transaction, the director owned 2,280,000 shares in the company, valued at approximately C$16,096,800. The trade was a 8.06% decrease in their position. 0.66% of the stock is owned by company insiders.

B2Gold Company Profile

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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