CIBC Has Lowered Expectations for B2Gold (NYSE:BTG) Stock Price

B2Gold (NYSE:BTG) had its price objective cut by analysts at CIBC from $3.70 to $3.30 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. CIBC’s target price indicates a potential upside of 38.66% from the company’s previous close.

A number of other research analysts have also recently weighed in on BTG. Jefferies Financial Group raised their price objective on shares of B2Gold from $4.00 to $5.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. StockNews.com lowered B2Gold from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. Cibc World Mkts downgraded B2Gold from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $3.75 target price on shares of B2Gold in a research note on Tuesday, September 17th. Finally, Bank of America lowered B2Gold from a “buy” rating to an “underperform” rating in a research note on Tuesday. 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 company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $4.02.

B2Gold Price Performance

Shares of NYSE BTG opened at $2.38 on Wednesday. The company’s fifty day moving average is $2.65 and its two-hundred day moving average is $2.88. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.08 and a current ratio of 1.83. The firm has a market capitalization of $3.13 billion, a P/E ratio of -4.25, a PEG ratio of 0.26 and a beta of 1.09. B2Gold has a one year low of $2.34 and a one year high of $3.50.

B2Gold (NYSE:BTG) last issued its quarterly earnings data 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 firm had revenue of $448.23 million for the quarter, compared to analyst estimates of $449.28 million. B2Gold had a positive return on equity of 7.53% and a negative net margin of 38.42%. The business’s revenue for the quarter was down 6.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.05 earnings per share. Analysts forecast that B2Gold will post 0.23 EPS for the current fiscal year.

Institutional Investors Weigh In On B2Gold

A number of institutional investors have recently added to or reduced their stakes in BTG. Point72 DIFC Ltd raised its holdings in shares of B2Gold by 16.6% in the 2nd quarter. Point72 DIFC Ltd now owns 21,471 shares of the company’s stock worth $58,000 after purchasing an additional 3,053 shares during the period. Moors & Cabot Inc. increased its position in B2Gold by 35.0% during the 3rd quarter. Moors & Cabot Inc. now owns 13,500 shares of the company’s stock worth $42,000 after purchasing an additional 3,500 shares in the last quarter. Creative Planning raised its holdings in B2Gold by 6.2% in the third quarter. Creative Planning now owns 82,324 shares of the company’s stock valued at $254,000 after buying an additional 4,810 shares during the period. Concurrent Investment Advisors LLC lifted its position in B2Gold by 24.7% during the third quarter. Concurrent Investment Advisors LLC now owns 26,513 shares of the company’s stock valued at $82,000 after buying an additional 5,257 shares in the last quarter. Finally, Blue Trust Inc. grew its stake in B2Gold by 72.1% during the third quarter. Blue Trust Inc. now owns 13,755 shares of the company’s stock worth $42,000 after buying an additional 5,764 shares during the period. Hedge funds and other institutional investors own 61.40% of the company’s stock.

About B2Gold

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.