Short Interest in B2Gold Corp. (NYSEAMERICAN:BTG) Decreases By 7.7%

B2Gold Corp. (NYSEAMERICAN:BTG) (TSE:BTO) was the recipient of a significant decline in short interest during the month of August. As of August 31st, there was short interest totalling 12,100,000 shares, a decline of 7.7% from the August 15th total of 13,110,000 shares. Based on an average daily volume of 11,340,000 shares, the short-interest ratio is presently 1.1 days. Approximately 1.0% of the shares of the company are sold short.

Analysts Set New Price Targets

Separately, StockNews.com upgraded B2Gold from a “hold” rating to a “buy” rating in a research report on Tuesday, May 21st. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, B2Gold currently has an average rating of “Moderate Buy” and a consensus price target of $3.78.

Institutional Trading of B2Gold

A number of hedge funds have recently made changes to their positions in the business. First Eagle Investment Management LLC grew its stake in shares of B2Gold by 142.9% during the first quarter. First Eagle Investment Management LLC now owns 27,216,340 shares of the basic materials company’s stock worth $71,360,000 after buying an additional 16,011,832 shares during the last quarter. Norges Bank acquired a new stake in shares of B2Gold in the 4th quarter worth about $50,125,000. Sprott Inc. raised its holdings in shares of B2Gold by 99.1% in the 4th quarter. Sprott Inc. now owns 6,382,409 shares of the basic materials company’s stock worth $20,170,000 after acquiring an additional 3,177,274 shares during the last quarter. Dimensional Fund Advisors LP grew its position in B2Gold by 5.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 22,912,152 shares of the basic materials company’s stock worth $72,403,000 after purchasing an additional 1,178,984 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in B2Gold by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 49,399,970 shares of the basic materials company’s stock worth $156,104,000 after purchasing an additional 856,269 shares in the last quarter. 61.40% of the stock is owned by institutional investors and hedge funds.

B2Gold Stock Performance

NYSEAMERICAN BTG traded up $0.02 during trading on Wednesday, reaching $3.31. 4,629,509 shares of the company traded hands, compared to its average volume of 11,804,646. The firm has a market capitalization of $4.33 billion, a P/E ratio of -110.96, a price-to-earnings-growth ratio of 1.65 and a beta of 1.10. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.97 and a current ratio of 2.99. B2Gold has a 1-year low of $2.34 and a 1-year high of $3.46. The stock has a 50 day moving average price of $2.72.

B2Gold (NYSEAMERICAN:BTG) (TSE:BTO) last released its quarterly earnings data on Thursday, August 8th. The basic materials company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.02). The firm had revenue of $492.57 million during the quarter. B2Gold had a negative net margin of 2.10% and a positive return on equity of 8.05%. Equities research analysts expect that B2Gold will post 0.26 EPS for the current fiscal year.

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.