B2Gold (NYSE:BTG) Price Target Cut to $3.30 by Analysts at CIBC

B2Gold (NYSE:BTG - Free Report) had its price objective lowered by CIBC from $3.70 to $3.30 in a research report released on Wednesday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other brokerages also recently issued reports on BTG. StockNews.com downgraded B2Gold from a "buy" rating to a "hold" rating in a research report on Friday, November 8th. Royal Bank of Canada reiterated a "sector perform" rating and set a $3.75 price target on shares of B2Gold in a research report on Tuesday, September 17th. Bank of America lowered B2Gold from a "buy" rating to an "underperform" rating in a report on Tuesday. Jefferies Financial Group lifted their target price on shares of B2Gold from $4.00 to $5.00 and gave the company a "buy" rating in a research report on Friday, October 4th. Finally, Cibc World Mkts lowered shares of B2Gold from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 24th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $4.02.

B2Gold Price Performance

BTG stock traded down $0.06 during mid-day trading on Wednesday, reaching $2.38. 19,114,153 shares of the company traded hands, compared to its average volume of 16,879,275. B2Gold has a 52-week low of $2.34 and a 52-week high of $3.50. The company has a market capitalization of $3.13 billion, a P/E ratio of -4.25, a P/E/G ratio of 0.26 and a beta of 1.09. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.83 and a quick ratio of 1.08. The company has a fifty day moving average price of $2.66 and a 200-day moving average price of $2.89.

B2Gold (NYSE:BTG - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.03). B2Gold had a negative net margin of 38.42% and a positive return on equity of 7.53%. The firm had revenue of $448.23 million for the quarter, compared to analysts' expectations of $449.28 million. During the same period in the prior year, the firm posted $0.05 EPS. B2Gold's revenue was down 6.2% on a year-over-year basis. As a group, analysts anticipate that B2Gold will post 0.23 earnings per share for the current year.

B2Gold Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Monday, December 2nd were paid a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 6.72%. The ex-dividend date was Monday, December 2nd. B2Gold's dividend payout ratio is currently -28.57%.

Institutional Investors Weigh In On B2Gold

A number of hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. raised its position in B2Gold by 525.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 517,575 shares of the company's stock worth $1,594,000 after purchasing an additional 434,775 shares during the period. Sanctuary Advisors LLC purchased a new position in shares of B2Gold in the third quarter worth about $50,000. Virtu Financial LLC lifted its stake in shares of B2Gold by 26.8% in the 3rd quarter. Virtu Financial LLC now owns 105,206 shares of the company's stock valued at $324,000 after acquiring an additional 22,232 shares during the last quarter. Old West Investment Management LLC purchased a new stake in B2Gold during the 3rd quarter valued at about $670,000. Finally, Toronto Dominion Bank grew its position in B2Gold by 6.7% during the 3rd quarter. Toronto Dominion Bank now owns 530,740 shares of the company's stock worth $1,635,000 after acquiring an additional 33,194 shares during the last quarter. 61.40% of the stock is currently owned by institutional investors.

B2Gold Company Profile

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.