Royal Bank of Canada Reaffirms “Sector Perform” Rating for B2Gold (NYSE:BTG)

Royal Bank of Canada restated their sector perform rating on shares of B2Gold (NYSE:BTG) in a research note published on Tuesday morning, Benzinga reports. The firm currently has a $3.75 target price on the stock.

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

B2Gold Price Performance

NYSE:BTG opened at $3.33 on Tuesday. The company has a current ratio of 2.93, a quick ratio of 1.74 and a debt-to-equity ratio of 0.01. B2Gold has a one year low of $2.34 and a one year high of $3.46. The company has a market capitalization of $4.35 billion, a P/E ratio of -110.83, a PEG ratio of 0.43 and a beta of 1.14. The stock’s 50-day simple moving average is $2.87.

B2Gold (NYSE:BTG) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $492.57 million for the quarter. On average, equities research analysts expect that B2Gold will post 0.27 earnings per share for the current fiscal year.

B2Gold Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 23rd. Shareholders of record on Tuesday, September 10th will be paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 4.81%. The ex-dividend date of this dividend is Tuesday, September 10th. B2Gold’s payout ratio is -533.33%.

Institutional Investors Weigh In On B2Gold

Several large investors have recently modified their holdings of BTG. Continuum Advisory LLC purchased a new position in B2Gold in the second quarter valued at approximately $40,000. Baader Bank Aktiengesellschaft bought a new stake in shares of B2Gold in the second quarter valued at $42,000. Concurrent Investment Advisors LLC purchased a new position in shares of B2Gold during the 2nd quarter valued at $57,000. Point72 DIFC Ltd lifted its position in shares of B2Gold by 16.6% during the 2nd quarter. Point72 DIFC Ltd now owns 21,471 shares of the company’s stock valued at $58,000 after buying an additional 3,053 shares during the last quarter. Finally, Raymond James Trust N.A. grew its stake in shares of B2Gold by 69.3% during the 2nd 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 during the period. Hedge funds and other 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.