B2Gold (TSE:BTO) Stock Price Up 6.1% - Here's What Happened

B2Gold Corp. (TSE:BTO - Get Free Report) NYSE: BTG shares shot up 6.1% during trading on Friday . The stock traded as high as C$4.59 and last traded at C$4.53. 1,163,417 shares were traded during mid-day trading, a decline of 70% from the average session volume of 3,838,596 shares. The stock had previously closed at C$4.27.

Analysts Set New Price Targets

BTO has been the topic of a number of recent research reports. TD Securities lowered shares of B2Gold from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, February 4th. BMO Capital Markets reduced their target price on B2Gold from C$7.00 to C$6.50 in a report on Monday, March 31st. Scotiabank upgraded B2Gold from a "hold" rating to a "strong-buy" rating in a report on Monday. Bank of America lowered B2Gold from a "buy" rating to an "underperform" rating in a research report on Tuesday, January 14th. Finally, Cormark lowered shares of B2Gold from a "moderate buy" rating to a "hold" rating in a research report on Monday, March 31st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, B2Gold currently has an average rating of "Moderate Buy" and an average target price of C$5.94.

B2Gold Price Performance

The company has a debt-to-equity ratio of 7.51, a quick ratio of 3.33 and a current ratio of 1.83. The stock has a market capitalization of C$4.26 billion, a PE ratio of -5.31, a price-to-earnings-growth ratio of -0.27 and a beta of 1.23. The business's 50-day moving average price is C$4.07 and its 200 day moving average price is C$3.98.

Remove Ads

B2Gold Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, March 20th were paid a $0.02 dividend. The ex-dividend date was Friday, March 7th. This represents a $0.08 dividend on an annualized basis and a yield of 1.74%. B2Gold's dividend payout ratio is presently -25.32%.

Insider Transactions at B2Gold

In related news, Senior Officer Eduard Bartz sold 27,862 shares of the firm's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of C$3.89, for a total value of C$108,383.18. Following the sale, the insider now directly owns 16 shares of the company's stock, valued at C$62.24. This trade represents a 99.94 % decrease in their ownership of the stock. Also, Senior Officer William Lytle sold 54,062 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of C$3.85, for a total value of C$208,138.70. In the last three months, insiders sold 535,145 shares of company stock worth $2,191,177. 0.66% of the stock is currently owned by corporate insiders.

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.