Stock Traders Purchase High Volume of Call Options on B2Gold (NYSE:BTG)

Key Points

• Traders purchased a substantial 30,908 call options for B2Gold, marking a significant 145% increase in volume compared to the average daily options traded.
• Analysts have mixed views on B2Gold, with Zacks Research downgrading the stock from "strong-buy" to "hold," while others, like Raymond James Financial, improved their price target to $6.00.
• B2Gold shares dropped 9.1% during midday trading, reflecting market sentiment despite a strong annual revenue increase of 40.5%.

B2Gold Corp. (NYSE:BTG - Get Free Report) was the target of unusually large options trading on Tuesday. Traders bought 30,908 call options on the stock. This represents an increase of approximately 145% compared to the typical daily volume of 12,604 call options.

Wall Street Analysts Forecast Growth

BTG has been the topic of several analyst reports. Zacks Research lowered B2Gold from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 13th. National Bankshares reiterated an "outperform" rating on shares of B2Gold in a report on Wednesday, July 16th. Raymond James Financial lifted their price target on B2Gold from $4.75 to $6.00 and gave the stock an "outperform" rating in a report on Friday, October 10th. Finally, CIBC lifted their price target on B2Gold from $4.50 to $6.50 and gave the stock a "neutral" rating in a report on Friday, October 10th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $6.25.

Hedge Funds Weigh In On B2Gold

A number of institutional investors and hedge funds have recently made changes to their positions in BTG. Independent Wealth Network Inc. acquired a new position in shares of B2Gold during the first quarter worth about $28,000. Steward Partners Investment Advisory LLC grew its position in shares of B2Gold by 875.0% during the second quarter. Steward Partners Investment Advisory LLC now owns 9,750 shares of the company's stock worth $35,000 after buying an additional 8,750 shares in the last quarter. International Assets Investment Management LLC acquired a new position in shares of B2Gold during the second quarter worth about $36,000. OMERS ADMINISTRATION Corp acquired a new position in shares of B2Gold during the first quarter worth about $38,000. Finally, Sagard Holdings Management Inc. acquired a new position in shares of B2Gold during the second quarter worth about $39,000. 61.40% of the stock is owned by institutional investors and hedge funds.

B2Gold Trading Down 9.1%

Shares of NYSE:BTG traded down $0.52 during midday trading on Tuesday, reaching $5.18. 74,597,290 shares of the company's stock were exchanged, compared to its average volume of 43,821,742. The firm's 50 day simple moving average is $4.59 and its two-hundred day simple moving average is $3.80. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.83 and a quick ratio of 1.08. The stock has a market cap of $6.85 billion, a price-to-earnings ratio of -10.79, a P/E/G ratio of 0.33 and a beta of 0.45. B2Gold has a fifty-two week low of $2.20 and a fifty-two week high of $5.94.

B2Gold (NYSE:BTG - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.12 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.13 by ($0.01). B2Gold had a positive return on equity of 5.65% and a negative net margin of 33.12%.B2Gold's quarterly revenue was up 40.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.06 EPS. As a group, sell-side analysts forecast that B2Gold will post 0.4 EPS for the current fiscal year.

B2Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 23rd. Stockholders of record on Wednesday, September 10th were given a dividend of $0.02 per share. The ex-dividend date of this dividend was Wednesday, September 10th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 1.5%. B2Gold's payout ratio is currently -22.86%.

B2Gold Company Profile

B2Gold Corp. operates as a gold producer company. It operates the Fekola Mine in Mali, the Masbate Mine in the Philippines, and the Otjikoto Mine in Namibia. The company also has an 100% interest in the Gramalote gold project in Colombia; 24% interest in the Calibre Mining Corp.; and approximately 19% interest in BeMetals Corp.

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