Gabelli Funds LLC Sells 1,297,300 Shares of B2Gold Corp. (NYSE:BTG)

Gabelli Funds LLC lowered its stake in shares of B2Gold Corp. (NYSE:BTG - Free Report) by 59.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 887,300 shares of the company's stock after selling 1,297,300 shares during the quarter. Gabelli Funds LLC owned about 0.07% of B2Gold worth $2,396,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in BTG. Continuum Advisory LLC acquired a new stake in shares of B2Gold in the 2nd quarter valued at $40,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of B2Gold in the 2nd quarter valued at $927,000. Equinox Partners Investment Management LLC boosted its holdings in shares of B2Gold by 31.6% in the 2nd quarter. Equinox Partners Investment Management LLC now owns 6,032,986 shares of the company's stock valued at $16,185,000 after purchasing an additional 1,450,000 shares in the last quarter. Raymond James Trust N.A. boosted its holdings in shares of B2Gold by 69.3% in the 2nd quarter. Raymond James Trust N.A. now owns 22,615 shares of the company's stock valued at $61,000 after purchasing an additional 9,258 shares in the last quarter. Finally, American Century Companies Inc. boosted its holdings in shares of B2Gold by 39.4% in the 2nd quarter. American Century Companies Inc. now owns 12,284,484 shares of the company's stock valued at $33,053,000 after purchasing an additional 3,474,553 shares in the last quarter. Institutional investors and hedge funds own 61.40% of the company's stock.

B2Gold Stock Performance

Shares of B2Gold stock traded up $0.08 during mid-day trading on Thursday, hitting $3.33. 22,263,669 shares of the stock were exchanged, compared to its average volume of 12,426,809. The firm's 50-day moving average is $2.89. The company has a quick ratio of 1.74, a current ratio of 2.93 and a debt-to-equity ratio of 0.01. B2Gold Corp. has a 12 month low of $2.34 and a 12 month high of $3.46. The stock has a market capitalization of $4.35 billion, a P/E ratio of -111.00, a P/E/G ratio of 0.54 and a beta of 1.14.

B2Gold (NYSE:BTG - Get Free Report) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.06 EPS for the quarter, missing analysts' consensus estimates of $0.08 by ($0.02). The firm had revenue of $492.57 million for the quarter. B2Gold had a negative net margin of 7.44% and a positive return on equity of 8.01%. Analysts predict that B2Gold Corp. will post 0.25 EPS for the current year.

B2Gold Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Tuesday, September 10th were given a dividend of $0.04 per share. The ex-dividend date of this dividend was Tuesday, September 10th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 4.80%. B2Gold's dividend payout ratio (DPR) is currently -533.33%.

Analysts Set New Price Targets

BTG has been the subject of several analyst reports. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $3.75 target price on shares of B2Gold in a research report on Tuesday, September 17th. CIBC raised their target price on B2Gold from $3.30 to $3.60 and gave the company a "neutral" rating in a research note on Tuesday. Jefferies Financial Group raised their target price on B2Gold from $3.50 to $4.00 and gave the company a "buy" rating in a research note on Friday, July 12th. StockNews.com upgraded B2Gold from a "hold" rating to a "buy" rating in a research note on Saturday, August 17th. Finally, Cormark downgraded B2Gold from a "moderate buy" rating to a "hold" rating in a research note on Monday, August 12th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $3.78.

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.