B2Gold (NYSE:BTG) Downgraded by Cormark to Hold

Cormark cut shares of B2Gold (NYSE:BTG) from a moderate buy rating to a hold rating in a research note released on Monday, Zacks.com reports. Cormark also issued estimates for B2Gold’s Q3 2024 earnings at $0.04 EPS, Q4 2024 earnings at $0.05 EPS, FY2024 earnings at $0.21 EPS and FY2025 earnings at $0.38 EPS.

A number of other brokerages have also recently issued reports on BTG. StockNews.com cut B2Gold from a buy rating to a hold rating in a report on Friday, August 9th. Jefferies Financial Group lifted their price objective on B2Gold from $3.50 to $4.00 and gave the company a buy rating in a report on Friday, July 12th. Finally, CIBC lifted their price objective on B2Gold from $3.40 to $3.50 and gave the company a neutral rating in a report on Wednesday, July 10th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of Hold and an average target price of $3.75.

B2Gold Trading Down 2.3 %

Shares of BTG opened at $2.57 on Monday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.97 and a current ratio of 2.99. B2Gold has a 1 year low of $2.34 and a 1 year high of $3.46. The company has a market capitalization of $3.36 billion, a PE ratio of -85.67, a P/E/G ratio of 0.42 and a beta of 1.12. The stock’s 50-day moving average is $2.77.

B2Gold Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 23rd. Investors of record on Tuesday, September 10th will be given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 6.23%. The ex-dividend date is Tuesday, September 10th. B2Gold’s dividend payout ratio is presently -533.33%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in BTG. Baader Bank Aktiengesellschaft bought a new position in shares of B2Gold during the 2nd quarter worth approximately $42,000. Equinox Partners Investment Management LLC boosted its stake in shares of B2Gold by 31.6% during the 2nd quarter. Equinox Partners Investment Management LLC now owns 6,032,986 shares of the company’s stock worth $16,185,000 after acquiring an additional 1,450,000 shares during the period. Concurrent Investment Advisors LLC bought a new position in shares of B2Gold during the 2nd quarter worth approximately $57,000. CIBC Asset Management Inc boosted its stake in shares of B2Gold by 2.0% during the 2nd quarter. CIBC Asset Management Inc now owns 1,818,734 shares of the company’s stock worth $4,876,000 after acquiring an additional 35,329 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in B2Gold by 7.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 308,605 shares of the company’s stock valued at $828,000 after purchasing an additional 22,028 shares during the period. Institutional investors and hedge funds own 61.40% of the company’s stock.

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.