Allspring Global Investments Holdings LLC Reduces Stake in B2Gold Corp. (NYSE:BTG)

Allspring Global Investments Holdings LLC lowered its position in B2Gold Corp. (NYSE:BTG) by 8.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,072,000 shares of the company’s stock after selling 200,000 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.16% of B2Gold worth $5,067,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in BTG. Van ECK Associates Corp increased its stake in shares of B2Gold by 40.6% during the 3rd quarter. Van ECK Associates Corp now owns 166,079,133 shares of the company’s stock worth $566,312,000 after purchasing an additional 47,967,010 shares in the last quarter. FMR LLC increased its position in B2Gold by 0.7% during the third quarter. FMR LLC now owns 59,489,129 shares of the company’s stock worth $183,862,000 after buying an additional 438,399 shares in the last quarter. Two Sigma Advisers LP increased its position 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 purchasing an additional 7,165,600 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in B2Gold by 69.5% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 11,596,488 shares of the company’s stock worth $35,837,000 after purchasing an additional 4,754,500 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in B2Gold by 3.4% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 7,701,328 shares of the company’s stock worth $23,819,000 after purchasing an additional 251,045 shares in the last quarter. Hedge funds and other institutional investors own 61.40% of the company’s stock.

B2Gold Price Performance

BTG opened at $2.66 on Thursday. The company has a quick ratio of 1.08, a current ratio of 1.83 and a debt-to-equity ratio of 0.07. B2Gold Corp. has a 52-week low of $2.20 and a 52-week high of $3.50. The company has a 50 day moving average of $2.50 and a two-hundred day moving average of $2.81. The company has a market cap of $3.51 billion, a P/E ratio of -4.75, a P/E/G ratio of 0.29 and a beta of 1.10.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on BTG. StockNews.com downgraded shares of B2Gold from a “buy” rating to a “hold” rating in a report on Friday, November 8th. CIBC lowered their target price on shares of B2Gold from $3.70 to $3.30 and set a “neutral” rating for the company in a research note on Wednesday, January 15th. TD Securities downgraded B2Gold from a “buy” rating to a “hold” rating in a research report on Tuesday, February 4th. Finally, Bank of America downgraded B2Gold from a “buy” rating to an “underperform” rating in a research report on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, B2Gold currently has an average rating of “Hold” and a consensus target price of $4.02.

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.