B2Gold (NYSE:BTG) Given New $3.60 Price Target at CIBC

B2Gold (NYSE:BTG) had its price target hoisted by CIBC from $3.30 to $3.60 in a research note issued to investors on Thursday, Marketbeat Ratings reports. The firm currently has a neutral rating on the stock.

A number of other equities research analysts have also issued reports on BTG. TD Securities lowered shares of B2Gold from a “buy” rating to a “hold” rating in a report on Tuesday, February 4th. Cormark upgraded shares of B2Gold from a “hold” rating to a “moderate buy” rating in a report on Friday, February 21st. Finally, Bank of America lowered shares of B2Gold from a “buy” rating to an “underperform” rating in a report on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, B2Gold has an average rating of “Hold” and an average price target of $4.12.

B2Gold Price Performance

B2Gold stock opened at $3.21 on Thursday. The firm has a market cap of $4.23 billion, a PE ratio of -6.69, a price-to-earnings-growth ratio of 0.33 and a beta of 1.09. B2Gold has a 52-week low of $2.20 and a 52-week high of $3.50. The company has a quick ratio of 1.08, a current ratio of 1.83 and a debt-to-equity ratio of 0.07. The company’s 50 day moving average is $2.64 and its two-hundred day moving average is $2.83.

B2Gold Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, March 7th were paid a dividend of $0.02 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.08 annualized dividend and a yield of 2.49%. B2Gold’s dividend payout ratio is currently -16.67%.

Institutional Investors Weigh In On B2Gold

Several hedge funds and other institutional investors have recently bought and sold shares of BTG. Norges Bank acquired a new stake in B2Gold during the 4th quarter worth $40,192,000. Two Sigma Advisers LP raised its stake in B2Gold by 66.9% during the 3rd quarter. Two Sigma Advisers LP now owns 17,875,880 shares of the company’s stock worth $55,058,000 after acquiring an additional 7,165,600 shares in the last quarter. American Century Companies Inc. raised its stake in B2Gold by 31.3% during the 4th quarter. American Century Companies Inc. now owns 22,658,771 shares of the company’s stock worth $55,436,000 after acquiring an additional 5,401,334 shares in the last quarter. Invesco Ltd. raised its stake in B2Gold by 32.7% during the 4th quarter. Invesco Ltd. now owns 15,987,385 shares of the company’s stock worth $39,009,000 after acquiring an additional 3,939,040 shares in the last quarter. Finally, Bank of America Corp DE grew its position in B2Gold by 577.0% during the 4th quarter. Bank of America Corp DE now owns 4,519,757 shares of the company’s stock worth $11,028,000 after purchasing an additional 3,852,095 shares during the last quarter. 61.40% of the stock is currently owned by institutional investors and hedge funds.

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.