CIBC Issues Pessimistic Forecast for B2Gold (NYSE:BTG) Stock Price

by · The Markets Daily

B2Gold (NYSE:BTG – Get Free Report) had its target price dropped by investment analysts at CIBC from $3.70 to $3.30 in a report issued on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. CIBC’s target price suggests a potential upside of 34.15% from the company’s current price.

BTG has been the topic of several other reports. Royal Bank of Canada reissued a “sector perform” rating and set a $3.75 price target on shares of B2Gold in a research report on Tuesday, September 17th. Bank of America cut shares of B2Gold from a “buy” rating to an “underperform” rating in a research report on Tuesday. Jefferies Financial Group raised their price target on shares of B2Gold from $4.00 to $5.00 and gave the company a “buy” rating in a report on Friday, October 4th. StockNews.com lowered shares of B2Gold from a “buy” rating to a “hold” rating in a report on Friday, November 8th. Finally, Cibc World Mkts downgraded B2Gold from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 24th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $4.02.

Check Out Our Latest Analysis on BTG

B2Gold Trading Down 2.0 %

BTG traded down $0.05 during trading on Wednesday, hitting $2.46. 11,980,411 shares of the company’s stock were exchanged, compared to its average volume of 15,271,934. The stock has a 50 day moving average price of $2.68 and a 200 day moving average price of $2.89. B2Gold has a 1 year low of $2.34 and a 1 year high of $3.50. The company has a current ratio of 1.83, a quick ratio of 1.08 and a debt-to-equity ratio of 0.07. The firm has a market cap of $3.24 billion, a P/E ratio of -4.39, a price-to-earnings-growth ratio of 0.53 and a beta of 1.09.

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

Institutional Trading of B2Gold

A number of institutional investors and hedge funds have recently modified their holdings of the business. E&G Advisors LP bought a new stake in shares of B2Gold in the 3rd quarter worth approximately $31,000. Private Advisor Group LLC acquired a new stake in B2Gold during the third quarter valued at approximately $33,000. Flow Traders U.S. LLC acquired a new position in shares of B2Gold in the 3rd quarter valued at $35,000. HighTower Advisors LLC acquired a new position in B2Gold in the 3rd quarter worth approximately $36,000. Finally, Blue Trust Inc. grew its stake in B2Gold by 72.1% during the 3rd quarter. Blue Trust Inc. now owns 13,755 shares of the company’s stock valued at $42,000 after acquiring an additional 5,764 shares in the last quarter. 61.40% of the stock is owned by institutional investors and hedge funds.

B2Gold Company Profile

(Get Free Report)

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.

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