B2Gold (NYSE:BTG) Price Target Lowered to $3.30 at CIBC

B2Gold (NYSE:BTG) had its price objective cut by equities researchers at CIBC from $3.70 to $3.30 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. CIBC’s price target would indicate a potential upside of 34.15% from the company’s previous close.

Several other research firms have also recently commented on BTG. StockNews.com cut B2Gold from a “buy” rating to a “hold” rating in a report on Friday, November 8th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $3.75 target price on shares of B2Gold in a research report on Tuesday, September 17th. Cibc World Mkts lowered shares of B2Gold from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Jefferies Financial Group lifted their price objective on B2Gold from $4.00 to $5.00 and gave the company a “buy” rating in a report on Friday, October 4th. Finally, Bank of America downgraded B2Gold from a “buy” rating to an “underperform” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $4.02.

B2Gold Stock Performance

Shares of NYSE:BTG traded down $0.05 during trading on Wednesday, reaching $2.46. The stock had a trading volume of 11,980,411 shares, compared to its average volume of 15,271,934. The stock has a fifty day simple moving average of $2.68 and a two-hundred day simple moving average of $2.89. The company has a quick ratio of 1.08, a current ratio of 1.83 and a debt-to-equity ratio of 0.07. B2Gold has a 52 week low of $2.34 and a 52 week high of $3.50. The firm has a market capitalization of $3.24 billion, a price-to-earnings ratio of -4.39, a P/E/G ratio of 0.53 and a beta of 1.09.

B2Gold (NYSE:BTG) last announced its earnings results on Wednesday, November 6th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.03). The firm had revenue of $448.23 million during the quarter, compared to the consensus estimate of $449.28 million. B2Gold had a positive return on equity of 7.53% and a negative net margin of 38.42%. The business’s revenue was down 6.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.05 EPS. As a group, analysts anticipate that B2Gold will post 0.23 earnings per share for the current fiscal year.

Hedge Funds Weigh In On B2Gold

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. E&G Advisors LP bought a new stake in shares of B2Gold in the 3rd quarter valued at about $31,000. Private Advisor Group LLC acquired a new position in B2Gold during the third quarter valued at approximately $33,000. Flow Traders U.S. LLC bought a new stake in B2Gold in the third quarter valued at approximately $35,000. HighTower Advisors LLC acquired a new stake in B2Gold in the third quarter worth $36,000. Finally, Moors & Cabot Inc. raised its holdings in B2Gold by 35.0% in the third quarter. Moors & Cabot Inc. now owns 13,500 shares of the company’s stock worth $42,000 after purchasing an additional 3,500 shares during the period. Institutional investors 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.