B2Gold (NYSE:BTG) Price Target Raised to $3.60 at CIBC

B2Gold (NYSE:BTG) had its target price hoisted by research analysts at CIBC from $3.30 to $3.60 in a note issued to investors on Tuesday, Benzinga reports. The firm presently has a “neutral” rating on the stock. CIBC’s price target would indicate a potential upside of 10.09% from the stock’s previous close.

Other analysts have also recently issued reports about the company. StockNews.com raised B2Gold from a “hold” rating to a “buy” rating in a research note on Saturday, August 17th. Royal Bank of Canada reiterated a “sector perform” rating and set a $3.75 price target on shares of B2Gold in a research report on Tuesday, September 17th. Jefferies Financial Group raised their target price on B2Gold from $3.50 to $4.00 and gave the company a “buy” rating in a research note on Friday, July 12th. Cormark lowered shares of B2Gold from a “moderate buy” rating to a “hold” rating in a research note on Monday, August 12th. Finally, Cibc World Mkts upgraded B2Gold from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 14th. Four analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $3.78.

B2Gold Stock Up 0.9 %

Shares of NYSE BTG traded up $0.03 during mid-day trading on Tuesday, reaching $3.27. 2,525,966 shares of the company were exchanged, compared to its average volume of 12,287,211. B2Gold has a 52 week low of $2.34 and a 52 week high of $3.46. The stock has a 50 day moving average of $2.88. The stock has a market cap of $4.27 billion, a PE ratio of -109.33, a PEG ratio of 0.43 and a beta of 1.14. The company has a quick ratio of 1.74, a current ratio of 2.93 and a debt-to-equity ratio of 0.01.

B2Gold (NYSE:BTG) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.02). The firm had revenue of $492.57 million for the quarter. B2Gold had a positive return on equity of 8.01% and a negative net margin of 7.44%. On average, sell-side analysts predict that B2Gold will post 0.27 earnings per share for the current year.

Hedge Funds Weigh In On B2Gold

A number of institutional investors have recently bought and sold shares of BTG. Continuum Advisory LLC bought a new stake in shares of B2Gold during the second quarter valued at approximately $40,000. DekaBank Deutsche Girozentrale purchased a new position in B2Gold in the second quarter valued at about $927,000. Equinox Partners Investment Management LLC grew its holdings in B2Gold by 31.6% in the second quarter. Equinox Partners Investment Management LLC now owns 6,032,986 shares of the company’s stock worth $16,185,000 after purchasing an additional 1,450,000 shares during the last quarter. Raymond James Trust N.A. increased its stake in B2Gold by 69.3% during the 2nd quarter. Raymond James Trust N.A. now owns 22,615 shares of the company’s stock valued at $61,000 after purchasing an additional 9,258 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in shares of B2Gold by 39.4% in the second quarter. American Century Companies Inc. now owns 12,284,484 shares of the company’s stock worth $33,053,000 after purchasing an additional 3,474,553 shares during the last quarter. 61.40% of the stock is owned by institutional investors.

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.