B2Gold (NYSEAMERICAN:BTG) Trading Down 8.3% – Here’s What Happened

B2Gold Corp (NYSEAMERICAN:BTG) (TSE:BTO) fell 8.3% during mid-day trading on Thursday . The stock traded as low as $4.07 and last traded at $4.22. 24,616,426 shares traded hands during trading, a decline of 39% from the average session volume of 40,337,480 shares. The stock had previously closed at $4.60.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on BTG shares. Scotiabank reaffirmed a “sector perform” rating on shares of B2Gold in a research report on Monday, January 26th. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of B2Gold in a report on Wednesday, February 4th. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Hold”.

B2Gold Stock Down 8.7%

The firm has a 50 day moving average price of $5.21 and a two-hundred day moving average price of $4.82. The company has a market capitalization of $5.62 billion, a price-to-earnings ratio of 16.15, a P/E/G ratio of 0.50 and a beta of 0.55. The company has a quick ratio of 0.47, a current ratio of 1.06 and a debt-to-equity ratio of 0.16.

B2Gold (NYSEAMERICAN:BTG) (TSE:BTO) last released its quarterly earnings results on Wednesday, February 18th. The basic materials company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.11). The company had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.15 billion. B2Gold had a return on equity of 18.12% and a net margin of 13.13%.The firm’s quarterly revenue was up 110.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.01 EPS. As a group, sell-side analysts expect that B2Gold Corp will post 0.26 earnings per share for the current year.

Institutional Investors Weigh In On B2Gold

Several institutional investors and hedge funds have recently made changes to their positions in BTG. StoneX Group Inc. lifted its position in shares of B2Gold by 2.1% in the 4th quarter. StoneX Group Inc. now owns 118,518 shares of the basic materials company’s stock worth $535,000 after buying an additional 2,490 shares during the last quarter. Concurrent Investment Advisors LLC raised its holdings in shares of B2Gold by 17.5% during the fourth quarter. Concurrent Investment Advisors LLC now owns 26,079 shares of the basic materials company’s stock valued at $118,000 after buying an additional 3,888 shares during the last quarter. SBI Securities Co. Ltd. raised its holdings in shares of B2Gold by 17.5% during the fourth quarter. SBI Securities Co. Ltd. now owns 28,432 shares of the basic materials company’s stock valued at $128,000 after buying an additional 4,236 shares during the last quarter. Advyzon Investment Management LLC boosted its position in B2Gold by 12.6% during the 4th quarter. Advyzon Investment Management LLC now owns 52,209 shares of the basic materials company’s stock worth $235,000 after acquiring an additional 5,842 shares during the period. Finally, Centric Wealth Management grew its stake in shares of B2Gold by 28.8% in the fourth quarter. Centric Wealth Management now owns 28,991 shares of the basic materials company’s stock worth $142,000 after purchasing an additional 6,491 shares in the last quarter. 61.40% of the stock is owned by institutional investors and hedge funds.

B2Gold Company Profile

B2Gold Corp. is a Canadian-based intermediate gold producer with a diversified portfolio of operating mines and advanced-stage development projects. Founded in 2007 through the merger of Bema Gold and CGA Mining, the company has grown to become one of the world’s largest new gold producers. Headquartered in Vancouver, British Columbia, B2Gold focuses on efficient, low-cost operations across several continents, combining exploration, development and production within a single strategic framework.

The company’s flagship assets include the Fekola mine in Mali, which commenced production in 2017, the Otjikoto mine in Namibia, and the Masbate mine in the Philippines.