Royal Bank of Canada Lowers B2Gold (NYSEAMERICAN:BTG) Price Target to $3.50

B2Gold (NYSEAMERICAN:BTG) (TSE:BTO) had its target price decreased by research analysts at Royal Bank of Canada from $4.00 to $3.50 in a research report issued to clients and investors on Thursday, BayStreet.CA reports. The brokerage presently has a “sector perform” rating on the basic materials company’s stock. Royal Bank of Canada’s target price would suggest a potential upside of 35.14% from the company’s previous close.

BTG has been the subject of a number of other reports. Jefferies Financial Group began coverage on shares of B2Gold in a research report on Thursday, February 29th. They issued a “buy” rating and a $3.50 price objective for the company. CIBC lowered shares of B2Gold from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $4.20 to $3.60 in a research report on Thursday, January 25th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $5.10.

B2Gold Stock Up 2.0 %

Shares of BTG stock traded up $0.05 during trading on Thursday, reaching $2.59. 8,418,601 shares of the company’s stock were exchanged, compared to its average volume of 10,486,922. The business has a fifty day moving average price of $2.95. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.27 and a quick ratio of 1.16. The stock has a market capitalization of $3.37 billion, a PE ratio of 130.07, a PEG ratio of 5.68 and a beta of 1.08. B2Gold has a twelve month low of $2.34 and a twelve month high of $4.40.

B2Gold (NYSEAMERICAN:BTG) (TSE:BTO) last released its earnings results on Thursday, February 22nd. The basic materials company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.01). B2Gold had a return on equity of 9.09% and a net margin of 0.31%. The company had revenue of $511.97 million for the quarter, compared to analyst estimates of $512.00 million. During the same period last year, the company posted $0.15 earnings per share. The business’s revenue for the quarter was down 13.6% compared to the same quarter last year. As a group, analysts anticipate that B2Gold will post 0.2 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Norges Bank purchased a new stake in shares of B2Gold during the fourth quarter valued at about $50,125,000. Van ECK Associates Corp lifted its stake in shares of B2Gold by 9.0% in the 3rd quarter. Van ECK Associates Corp now owns 155,923,072 shares of the basic materials company’s stock valued at $450,601,000 after purchasing an additional 12,836,388 shares during the period. Intact Investment Management Inc. increased its holdings in B2Gold by 332.9% in the third quarter. Intact Investment Management Inc. now owns 11,250,230 shares of the basic materials company’s stock valued at $32,302,000 after buying an additional 8,651,430 shares in the last quarter. Vanguard Group Inc. raised its holdings in B2Gold by 20.3% in the 3rd quarter. Vanguard Group Inc. now owns 48,543,701 shares of the basic materials company’s stock worth $140,291,000 after purchasing an additional 8,177,437 shares during the period. Finally, Two Sigma Investments LP lifted its position in shares of B2Gold by 159.3% during the 1st quarter. Two Sigma Investments LP now owns 13,262,384 shares of the basic materials company’s stock valued at $52,254,000 after buying an additional 8,147,929 shares in the last quarter. Institutional investors own 61.40% of the company’s stock.

About B2Gold

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.