B2Gold (NYSE:BTG) Stock Price Down 2.5% - Here's Why

Shares of B2Gold Corp. (NYSE:BTG - Get Free Report) dropped 2.5% during trading on Tuesday . The stock traded as low as $3.34 and last traded at $3.32. Approximately 34,238,962 shares traded hands during mid-day trading, an increase of 63% from the average daily volume of 21,066,441 shares. The stock had previously closed at $3.40.

Wall Street Analysts Forecast Growth

BTG has been the subject of several research reports. Bank of America downgraded B2Gold from a "buy" rating to an "underperform" rating in a research report on Tuesday, January 14th. Raymond James restated an "outperform" rating and issued a $4.50 target price on shares of B2Gold in a report on Friday, April 4th. CIBC lifted their price target on shares of B2Gold from $3.30 to $3.60 and gave the stock a "neutral" rating in a report on Thursday, March 20th. National Bankshares restated an "outperform" rating on shares of B2Gold in a research report on Wednesday, April 2nd. Finally, Scotiabank upgraded B2Gold from a "hold" rating to a "strong-buy" rating in a report on Monday, April 14th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $4.21.

B2Gold Trading Down 1.7 %

The company has a market cap of $4.09 billion, a P/E ratio of -6.45, a P/E/G ratio of 0.33 and a beta of 0.93. The business has a fifty day simple moving average of $2.96 and a 200 day simple moving average of $2.83. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.08 and a current ratio of 1.83.

B2Gold Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Friday, March 7th were paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date was Friday, March 7th. B2Gold's dividend payout ratio is presently -16.67%.

Hedge Funds Weigh In On B2Gold

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. HighTower Advisors LLC increased its stake in shares of B2Gold by 45.4% during the 4th quarter. HighTower Advisors LLC now owns 16,933 shares of the company's stock worth $41,000 after purchasing an additional 5,288 shares during the last quarter. Cadence Wealth Management LLC raised its stake in shares of B2Gold by 3.5% in the 4th quarter. Cadence Wealth Management LLC now owns 237,696 shares of the company's stock valued at $580,000 after buying an additional 7,990 shares in the last quarter. Signaturefd LLC boosted its holdings in B2Gold by 176.1% during the fourth quarter. Signaturefd LLC now owns 12,935 shares of the company's stock valued at $32,000 after purchasing an additional 8,250 shares in the last quarter. Cantor Fitzgerald L. P. bought a new stake in B2Gold in the fourth quarter valued at $25,000. Finally, FIL Ltd raised its stake in B2Gold by 37.5% during the fourth quarter. FIL Ltd now owns 38,047 shares of the company's stock worth $93,000 after acquiring an additional 10,373 shares in the last quarter. 61.40% of the stock is currently owned by hedge funds and other 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.