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

B2Gold (NYSE:BTG) had its price target upped by stock 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 target price indicates a potential upside of 10.09% from the stock’s current price.

A number of other brokerages have also recently commented on BTG. Scotiabank cut shares of B2Gold from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 9th. Cibc World Mkts upgraded shares of B2Gold from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 14th. Cormark lowered shares of B2Gold from a “moderate buy” rating to a “hold” rating in a research note on Monday, August 12th. Jefferies Financial Group upped their price target on B2Gold from $3.50 to $4.00 and gave the company a “buy” rating in a research report on Friday, July 12th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $3.75 price objective on shares of B2Gold in a research note on Tuesday, September 17th. Four analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $3.78.

B2Gold Stock Performance

Shares of BTG traded up $0.03 during mid-day trading on Tuesday, hitting $3.27. 2,525,966 shares of the company were exchanged, compared to its average volume of 12,287,211. The company has a current ratio of 2.93, a quick ratio of 1.74 and a debt-to-equity ratio of 0.01. B2Gold has a 1-year low of $2.34 and a 1-year high of $3.46. The stock has a market cap of $4.27 billion, a PE ratio of -109.33, a price-to-earnings-growth ratio of 0.43 and a beta of 1.14. The firm’s 50 day simple moving average is $2.88.

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 analysts’ consensus estimates of $0.08 by ($0.02). B2Gold had a positive return on equity of 8.01% and a negative net margin of 7.44%. The firm had revenue of $492.57 million during the quarter. Research analysts anticipate that B2Gold will post 0.27 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in BTG. Continuum Advisory LLC acquired a new position in B2Gold in the second quarter valued at approximately $40,000. Baader Bank Aktiengesellschaft purchased a new position in shares of B2Gold during the second quarter worth about $42,000. Concurrent Investment Advisors LLC acquired a new position in B2Gold in the 2nd quarter valued at about $57,000. Point72 DIFC Ltd raised its stake in B2Gold by 16.6% during the 2nd quarter. Point72 DIFC Ltd now owns 21,471 shares of the company’s stock valued at $58,000 after acquiring an additional 3,053 shares during the last quarter. Finally, Raymond James Trust N.A. lifted its position in B2Gold by 69.3% during the 2nd quarter. Raymond James Trust N.A. now owns 22,615 shares of the company’s stock worth $61,000 after acquiring an additional 9,258 shares during the period. 61.40% of the stock is owned by institutional investors and hedge funds.

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.