Connor Clark & Lunn Investment Management Ltd. Sells 6,988,700 Shares of B2Gold Corp. (NYSE:BTG)

Connor Clark & Lunn Investment Management Ltd. lessened its position in B2Gold Corp. (NYSE:BTG - Free Report) by 60.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,607,788 shares of the company's stock after selling 6,988,700 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.35% of B2Gold worth $11,269,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Two Sigma Advisers LP increased its holdings in B2Gold by 66.9% during the 3rd quarter. Two Sigma Advisers LP now owns 17,875,880 shares of the company's stock valued at $55,058,000 after purchasing an additional 7,165,600 shares during the period. Amundi grew its position in shares of B2Gold by 37.4% in the 4th quarter. Amundi now owns 8,139,040 shares of the company's stock worth $21,243,000 after buying an additional 2,215,319 shares during the last quarter. Quadrature Capital Ltd purchased a new position in shares of B2Gold during the third quarter valued at approximately $5,113,000. Invenomic Capital Management LP purchased a new stake in B2Gold in the third quarter worth $2,636,000. Finally, National Bank of Canada FI boosted its holdings in B2Gold by 16.8% in the third quarter. National Bank of Canada FI now owns 5,915,425 shares of the company's stock valued at $18,235,000 after acquiring an additional 849,925 shares in the last quarter. 61.40% of the stock is owned by institutional investors.

B2Gold Stock Performance

Shares of NYSE:BTG traded up $0.02 during midday trading on Wednesday, reaching $3.30. 52,921,295 shares of the company's stock traded hands, compared to its average volume of 17,620,361. 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 Corp. has a one year low of $2.20 and a one year high of $3.50. The company has a market cap of $4.35 billion, a price-to-earnings ratio of -6.88, a P/E/G ratio of 0.33 and a beta of 1.09. The stock has a 50 day moving average of $2.61 and a 200 day moving average of $2.82.

Remove Ads

B2Gold Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, March 7th will be given a dividend of $0.02 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $0.08 dividend on an annualized basis and a yield of 2.42%. B2Gold's dividend payout ratio (DPR) is -16.67%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. TD Securities cut B2Gold from a "buy" rating to a "hold" rating in a research note on Tuesday, February 4th. Cormark raised shares of B2Gold from a "hold" rating to a "moderate buy" rating in a research note on Friday, February 21st. Bank of America downgraded shares of B2Gold from a "buy" rating to an "underperform" rating in a research note on Tuesday, January 14th. Finally, CIBC dropped their price target on B2Gold from $3.70 to $3.30 and set a "neutral" rating on the stock in a research report on Wednesday, January 15th. 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 stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $4.02.

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.