B2Gold (NYSEAMERICAN:BTG) Shares Break Below Fifty Day Moving Average – Here’s What Happened

Shares of B2Gold Corp (NYSEAMERICAN:BTG) (TSE:BTO) passed below its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of $5.34 and traded as low as $4.86. B2Gold shares last traded at $4.87, with a volume of 23,078,843 shares changing hands.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on BTG shares. TD Securities upgraded B2Gold from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 10th. ATB Cormark Capital Markets upgraded B2Gold from a “hold” rating to a “moderate buy” rating in a research report on Monday, August 10th. Scotiabank upgraded B2Gold from a “sector perform” rating to a “sector outperform” rating in a research report on Monday, August 10th. Canadian Imperial Bank of Commerce raised B2Gold from a “hold” rating to an “outperform” rating and set a $7.50 price objective on the stock in a research note on Monday, August 10th. Finally, Jefferies Financial Group decreased their target price on B2Gold from $7.00 to $6.00 and set a “buy” rating on the stock in a research report on Monday, July 6th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $6.81.

B2Gold Stock Down 7.2%

The company has a market capitalization of $6.42 billion, a P/E ratio of 8.85, a PEG ratio of 0.32 and a beta of 0.70. The company has a current ratio of 1.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.11. The stock has a 50 day moving average price of $5.34 and a 200 day moving average price of $4.73.

B2Gold (NYSEAMERICAN:BTG) (TSE:BTO) last issued its quarterly earnings data on Thursday, August 6th. The basic materials company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.04). The firm had revenue of $789.35 million for the quarter, compared to the consensus estimate of $836.33 million. B2Gold had a return on equity of 17.05% and a net margin of 21.47%. The company’s revenue was up 14.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.12 EPS. On average, research analysts anticipate that B2Gold Corp will post 0.52 earnings per share for the current fiscal year.

Institutional Trading of B2Gold

A number of hedge funds have recently made changes to their positions in BTG. Deutsche Bank AG bought a new stake in shares of B2Gold during the second quarter worth about $63,960,000. Bank of America Corp DE acquired a new position in shares of B2Gold in the second quarter valued at approximately $31,985,000. Alberta Investment Management Corp bought a new position in B2Gold in the 2nd quarter valued at approximately $1,346,000. Persistent Asset Partners Ltd bought a new stake in B2Gold during the 2nd quarter worth approximately $781,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in B2Gold during the 1st quarter worth approximately $1,630,000. 61.40% of the stock is owned by institutional investors and hedge funds.

B2Gold Company Profile

B2Gold Corp. is a Canadian gold mining company engaged in the acquisition, development and operation of gold mines and exploration properties. The company’s activities include mineral exploration, mine development, ore processing and the production and sale of gold.

B2Gold’s principal producing assets have included the Fekola Complex in Mali and the Masbate Mine in the Philippines. The company has also operated the Otjikoto Mine in Namibia and has pursued additional growth through exploration and project development in several jurisdictions.

Founded in 2007 and headquartered in Vancouver, British Columbia, B2Gold expanded from an exploration-focused business into an international gold producer.