Renaissance Technologies LLC Decreases Stake in B2Gold Corp. (NYSE:BTG)

Renaissance Technologies LLC reduced its holdings in B2Gold Corp. (NYSE:BTG) by 7.2% during the second quarter, Holdings Channel.com reports. The institutional investor owned 24,468,397 shares of the company’s stock after selling 1,892,500 shares during the quarter. Renaissance Technologies LLC’s holdings in B2Gold were worth $66,065,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Headlands Technologies LLC grew its position in shares of B2Gold by 32.8% in the 2nd quarter. Headlands Technologies LLC now owns 34,250 shares of the company’s stock worth $92,000 after buying an additional 8,463 shares during the last quarter. Raymond James Trust N.A. boosted its holdings in B2Gold by 69.3% in the second quarter. Raymond James Trust N.A. now owns 22,615 shares of the company’s stock worth $61,000 after acquiring an additional 9,258 shares in the last quarter. Continuum Advisory LLC bought a new stake in B2Gold in the second quarter worth $40,000. Baader Bank Aktiengesellschaft bought a new stake in B2Gold in the second quarter worth $42,000. Finally, KG&L Capital Management LLC raised its stake in shares of B2Gold by 9.6% in the second quarter. KG&L Capital Management LLC now owns 207,500 shares of the company’s stock worth $560,000 after purchasing an additional 18,200 shares during the last quarter. 61.40% of the stock is currently owned by institutional investors.

B2Gold Stock Performance

BTG stock opened at $3.33 on Tuesday. B2Gold Corp. has a one year low of $2.34 and a one year high of $3.46. The company has a current ratio of 2.93, a quick ratio of 1.74 and a debt-to-equity ratio of 0.01. The firm’s 50 day moving average price is $2.85. The stock has a market cap of $4.35 billion, a price-to-earnings ratio of -111.00, a PEG ratio of 0.43 and a beta of 1.14.

B2Gold (NYSE:BTG) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.02). B2Gold had a positive return on equity of 8.01% and a negative net margin of 7.44%. The business had revenue of $492.57 million during the quarter. Equities research analysts predict that B2Gold Corp. will post 0.27 EPS for the current fiscal year.

B2Gold Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 23rd. Investors of record on Tuesday, September 10th will be paid a dividend of $0.04 per share. The ex-dividend date of this dividend is Tuesday, September 10th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 4.80%. B2Gold’s payout ratio is -533.33%.

Analysts Set New Price Targets

BTG has been the subject of several recent analyst reports. Scotiabank cut B2Gold from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 9th. Jefferies Financial Group increased their price objective 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. StockNews.com raised shares of B2Gold from a “hold” rating to a “buy” rating in a report on Saturday, August 17th. CIBC upped their target price on shares of B2Gold from $3.40 to $3.50 and gave the company a “neutral” rating in a research report on Wednesday, July 10th. Finally, Royal Bank of Canada lifted their price objective on shares of B2Gold from $3.50 to $3.75 and gave the company a “sector perform” rating in a report on Tuesday, September 10th. Four analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, B2Gold currently has an average rating of “Moderate Buy” and an average price target of $3.75.

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.