Verdence Capital Advisors LLC Buys New Holdings in B2Gold Corp. (NYSE:BTG)

Verdence Capital Advisors LLC purchased a new position in shares of B2Gold Corp. (NYSE:BTG) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 20,167 shares of the company’s stock, valued at approximately $62,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of BTG. Point72 DIFC Ltd lifted its stake in B2Gold by 16.6% during the second 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. Creative Planning lifted its position in shares of B2Gold by 6.2% during the 3rd quarter. Creative Planning now owns 82,324 shares of the company’s stock worth $254,000 after buying an additional 4,810 shares during the period. Concurrent Investment Advisors LLC boosted its stake in B2Gold by 24.7% in the 3rd 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. Blue Trust Inc. grew its position in B2Gold by 72.1% in the third 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 during the period. Finally, Sei Investments Co. raised its stake in B2Gold by 31.3% during the second quarter. Sei Investments Co. now owns 33,459 shares of the company’s stock worth $90,000 after acquiring an additional 7,974 shares in the last quarter. Institutional investors own 61.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. StockNews.com downgraded shares of B2Gold from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. CIBC upped their price objective on shares of B2Gold from $3.30 to $3.60 and gave the stock a “neutral” rating in a research note on Tuesday, September 24th. Scotiabank cut shares of B2Gold from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 9th. Jefferies Financial Group boosted their target price on B2Gold from $4.00 to $5.00 and gave the stock a “buy” rating in a report on Friday, October 4th. Finally, Cibc World Mkts downgraded B2Gold from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $4.12.

B2Gold Stock Performance

NYSE:BTG opened at $2.76 on Wednesday. The firm has a market cap of $3.62 billion, a P/E ratio of -4.93, a price-to-earnings-growth ratio of 2.41 and a beta of 1.13. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.74 and a current ratio of 2.93. The stock’s fifty day moving average price is $3.16. B2Gold Corp. has a 52-week low of $2.34 and a 52-week high of $3.50.

B2Gold (NYSE:BTG) last posted 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 firm had revenue of $448.23 million during the quarter, compared to the consensus estimate of $449.28 million. B2Gold had a negative net margin of 38.42% and a positive return on equity of 7.18%. B2Gold’s revenue was down 6.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.05 EPS. On average, equities analysts predict that B2Gold Corp. will post 0.25 EPS for the current fiscal year.

B2Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Monday, December 2nd will be issued a $0.04 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.16 annualized dividend and a yield of 5.80%. B2Gold’s dividend payout ratio is currently -28.57%.

B2Gold 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.