CIBC Forecasts Strong Price Appreciation for B2Gold (NYSE:BTG) Stock

B2Gold (NYSE:BTG) had its price objective hoisted by CIBC from $3.30 to $3.60 in a note issued to investors on Thursday, MarketBeat reports. The firm presently has a “neutral” rating on the stock. CIBC’s price objective would indicate a potential upside of 15.38% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the stock. Bank of America cut shares of B2Gold from a “buy” rating to an “underperform” rating in a research report on Tuesday, January 14th. TD Securities cut shares of B2Gold from a “buy” rating to a “hold” rating in a report on Tuesday, February 4th. Finally, Cormark upgraded shares of B2Gold from a “hold” rating to a “moderate buy” rating in a report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $4.12.

B2Gold Stock Down 2.8 %

Shares of NYSE:BTG opened at $3.12 on Thursday. B2Gold has a one year low of $2.20 and a one year high of $3.50. The company has a 50 day moving average of $2.65 and a 200-day moving average of $2.83. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.83 and a quick ratio of 1.08. The stock has a market cap of $4.11 billion, a price-to-earnings ratio of -6.50, a P/E/G ratio of 0.33 and a beta of 1.09.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Cantor Fitzgerald L. P. acquired a new position in shares of B2Gold in the fourth quarter valued at approximately $25,000. Flow Traders U.S. LLC acquired a new position in shares of B2Gold in the third quarter valued at approximately $35,000. HighTower Advisors LLC bought a new stake in shares of B2Gold in the third quarter worth $36,000. Groupama Asset Managment bought a new stake in shares of B2Gold in the fourth quarter worth $29,000. Finally, Schonfeld Strategic Advisors LLC bought a new stake in shares of B2Gold in the fourth quarter worth $30,000. Institutional investors and hedge funds own 61.40% of the company’s stock.

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.