B2Gold (TSE:BTO) Stock Price Breaks Above 200 Day Moving Average - Here's Why

Key Points

• B2Gold shares broke above their 200-day moving average, reaching C$6.86 before closing at C$6.69 on heavy trading volume.
• Analyst sentiment improved significantly, with multiple firms upgrading the stock to Buy or Strong Buy. The consensus rating is “Buy,” with an average price target of C$9.95.
• B2Gold reported C$1.12 billion in quarterly revenue and C$0.04 in EPS, while maintaining a quarterly dividend of $0.02 per share. Two insiders also sold a combined 377,190 shares in August.

B2Gold Corp. (TSE:BTO - Get Free Report) NYSE: BTG's share price passed above its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of C$6.60 and traded as high as C$6.86. B2Gold shares last traded at C$6.69, with a volume of 3,694,166 shares traded.

Analysts Set New Price Targets

Several equities research analysts have commented on BTO shares. ATB Cormark Capital Markets raised B2Gold from a "hold" rating to a "moderate buy" rating and boosted their target price for the stock from C$6.50 to C$11.00 in a report on Monday, August 10th. TD raised B2Gold from a "hold" rating to a "buy" rating and increased their target price for the stock from C$6.00 to C$8.50 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 Securities raised B2Gold from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 10th. Finally, Scotia raised B2Gold from a "sector perform" rating to a "sector outperform" rating and set a C$10.00 price target for the company in a research report on Monday, August 10th. Three investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Buy" and an average target price of C$9.95.

B2Gold Stock Performance

The company has a market capitalization of C$8.84 billion, a PE ratio of 11.95, a price-to-earnings-growth ratio of -0.27 and a beta of 1.86. The business's fifty day moving average is C$7.47 and its two-hundred day moving average is C$6.60. The company has a current ratio of 1.58, a quick ratio of 3.33 and a debt-to-equity ratio of 11.48.

B2Gold (TSE:BTO - Get Free Report) NYSE: BTG last released its quarterly earnings data on Thursday, August 6th. The company reported C$0.04 earnings per share (EPS) for the quarter. B2Gold had a return on equity of 21.87% and a net margin of 21.20%. The business had revenue of C$1.12 billion for the quarter. Equities research analysts predict that B2Gold Corp. will post 0.56 earnings per share for the current year.

B2Gold Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 23rd. Shareholders of record on Wednesday, September 23rd were paid a dividend of $0.02 per share. The ex-dividend date was Thursday, September 10th. This represents a $0.08 dividend on an annualized basis and a yield of 1.2%. B2Gold's payout ratio is currently 14.29%.

Insiders Place Their Bets

In other B2Gold news, insider William Lytle sold 177,190 shares of the company's stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of C$7.16, for a total transaction of C$1,268,680.40. Following the completion of the sale, 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 ownership of the stock. Also, Director Jerry Korpan sold 200,000 shares of the company's stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of C$7.06, for a total value of C$1,412,000.00. Following the completion of the sale, the director owned 2,280,000 shares of the company's stock, valued at C$16,096,800. This trade represents a 8.06% decrease in their ownership of the stock. 0.66% of the stock is currently owned by corporate 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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