Royal Bank of Canada Raises B2Gold (NYSE:BTG) Price Target to $3.75

B2Gold (NYSE:BTG) had its price target hoisted by Royal Bank of Canada from $3.50 to $3.75 in a research report report published on Tuesday, BayStreet.CA reports. Royal Bank of Canada currently has a sector perform rating on the stock.

Several other brokerages also recently issued reports on BTG. StockNews.com raised shares of B2Gold from a hold rating to a buy rating in a research note on Saturday, August 17th. Jefferies Financial Group upped their price objective on B2Gold from $3.50 to $4.00 and gave the stock a buy rating in a report on Friday, July 12th. Cibc World Mkts upgraded B2Gold from a hold rating to a strong-buy rating in a research note on Wednesday, August 14th. Cormark lowered shares of B2Gold from a moderate buy rating to a hold rating in a report on Monday, August 12th. Finally, CIBC boosted their price objective on shares of B2Gold from $3.40 to $3.50 and gave the stock a neutral rating in a report on Wednesday, July 10th. Four equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $3.75.

B2Gold Trading Up 12.8 %

Shares of B2Gold stock opened at $3.09 on Tuesday. The firm has a 50-day moving average of $2.83. The stock has a market capitalization of $4.04 billion, a PE ratio of -103.00, a PEG ratio of 0.41 and a beta of 1.14. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.74 and a current ratio of 2.93. B2Gold has a 12-month low of $2.34 and a 12-month high of $3.46.

B2Gold (NYSE:BTG) last announced its earnings results on Thursday, August 8th. The company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.02). The business had revenue of $492.57 million for the quarter. B2Gold had a positive return on equity of 8.01% and a negative net margin of 7.44%. On average, sell-side analysts forecast that B2Gold will post 0.28 EPS for the current fiscal year.

B2Gold Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 23rd. Investors of record on Tuesday, September 10th will be paid a $0.04 dividend. The ex-dividend date is Tuesday, September 10th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 5.18%. B2Gold’s dividend payout ratio (DPR) is presently -533.33%.

Institutional Investors Weigh In On B2Gold

A number of institutional investors have recently modified their holdings of BTG. Continuum Advisory LLC acquired a new position in B2Gold in the second quarter worth $40,000. Baader Bank Aktiengesellschaft bought a new position in shares of B2Gold in the 2nd quarter worth about $42,000. Concurrent Investment Advisors LLC acquired a new stake in shares of B2Gold during the 2nd quarter worth approximately $57,000. Raymond James Trust N.A. boosted its holdings in shares of B2Gold by 69.3% during the second quarter. Raymond James Trust N.A. now owns 22,615 shares of the company’s stock valued at $61,000 after acquiring an additional 9,258 shares during the period. Finally, Sei Investments Co. increased its stake in shares of B2Gold by 31.3% in the second quarter. Sei Investments Co. now owns 33,459 shares of the company’s stock valued at $90,000 after purchasing an additional 7,974 shares during the period. Institutional investors and hedge funds 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.