B2Gold (NYSE:BTG) Downgraded by Cormark to Hold

Cormark cut shares of B2Gold (NYSE:BTG) from a moderate buy rating to a hold rating in a research note published on Monday, Zacks.com reports. Cormark also issued estimates for B2Gold’s Q3 2024 earnings at $0.04 EPS, Q4 2024 earnings at $0.05 EPS, FY2024 earnings at $0.21 EPS and FY2025 earnings at $0.38 EPS.

A number of other equities analysts have also recently weighed in on the stock. Jefferies Financial Group upped their price target on shares of B2Gold from $3.50 to $4.00 and gave the stock a buy rating in a research note on Friday, July 12th. CIBC upped their price target on shares of B2Gold from $3.40 to $3.50 and gave the stock a neutral rating in a research note on Wednesday, July 10th. Finally, StockNews.com cut shares of B2Gold from a buy rating to a hold rating in a research note on Friday, August 9th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Hold and an average target price of $3.75.

B2Gold Stock Down 2.3 %

NYSE:BTG opened at $2.57 on Monday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.97 and a current ratio of 2.99. B2Gold has a fifty-two week low of $2.34 and a fifty-two week high of $3.46. The firm has a market cap of $3.36 billion, a PE ratio of -85.67, a PEG ratio of 0.42 and a beta of 1.12. The stock’s fifty day moving average is $2.77.

B2Gold Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 23rd. Shareholders of record on Tuesday, September 10th will be paid a dividend of $0.04 per share. The ex-dividend date is Tuesday, September 10th. This represents a $0.16 annualized dividend and a dividend yield of 6.23%. B2Gold’s dividend payout ratio is currently -533.33%.

Institutional Investors Weigh In On B2Gold

Several hedge funds have recently modified their holdings of BTG. The Manufacturers Life Insurance Company lifted its holdings in shares of B2Gold by 80.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,450,283 shares of the company’s stock worth $19,957,000 after acquiring an additional 3,311,970 shares during the period. AXA S.A. grew its position in B2Gold by 546.4% in the second quarter. AXA S.A. now owns 374,901 shares of the company’s stock valued at $1,012,000 after acquiring an additional 316,901 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. grew its position in B2Gold by 9.8% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 203,709 shares of the company’s stock valued at $550,000 after acquiring an additional 18,125 shares in the last quarter. Cubist Systematic Strategies LLC grew its position in B2Gold by 133.8% in the second quarter. Cubist Systematic Strategies LLC now owns 1,977,354 shares of the company’s stock valued at $5,334,000 after acquiring an additional 1,131,534 shares in the last quarter. Finally, Bank of Montreal Can grew its position in B2Gold by 2.2% in the second quarter. Bank of Montreal Can now owns 13,158,780 shares of the company’s stock valued at $34,824,000 after acquiring an additional 282,070 shares in the last quarter. 61.40% of the stock is owned by institutional investors and hedge funds.

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.