Old West Investment Management LLC Acquires New Holdings in B2Gold Corp. (NYSE:BTG)

Old West Investment Management LLC bought a new position in B2Gold Corp. (NYSE:BTG) in the third quarter, Holdings Channel.com reports. The institutional investor bought 217,519 shares of the company’s stock, valued at approximately $670,000.

Other hedge funds have also modified their holdings of the company. Toronto Dominion Bank raised its stake in shares of B2Gold by 6.7% during the 3rd quarter. Toronto Dominion Bank now owns 530,740 shares of the company’s stock worth $1,635,000 after acquiring an additional 33,194 shares in the last quarter. Geode Capital Management LLC increased its position in shares of B2Gold by 46.7% during the third quarter. Geode Capital Management LLC now owns 2,075,521 shares of the company’s stock worth $7,544,000 after purchasing an additional 661,107 shares in the last quarter. Barclays PLC lifted its holdings in shares of B2Gold by 23.7% during the 3rd quarter. Barclays PLC now owns 910,558 shares of the company’s stock valued at $2,804,000 after purchasing an additional 174,477 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of B2Gold during the 3rd quarter valued at $1,597,000. Finally, Zacks Investment Management acquired a new stake in shares of B2Gold in the 3rd quarter worth $49,000. 61.40% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. StockNews.com cut B2Gold from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. CIBC increased their price objective on shares of B2Gold from $3.30 to $3.60 and gave the company a “neutral” rating in a research report on Tuesday, September 24th. Cibc World Mkts downgraded shares of B2Gold from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Royal Bank of Canada restated a “sector perform” rating and issued a $3.75 price objective on shares of B2Gold in a research note on Tuesday, September 17th. Finally, Jefferies Financial Group upped their target price on B2Gold from $4.00 to $5.00 and gave the company a “buy” rating in a research report on Friday, October 4th. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $4.12.

B2Gold Price Performance

Shares of BTG opened at $2.73 on Wednesday. The business’s 50-day moving average is $3.04 and its two-hundred day moving average is $2.91. The company has a market capitalization of $3.58 billion, a P/E ratio of -4.88, a P/E/G ratio of 0.49 and a beta of 1.08. B2Gold Corp. has a fifty-two week low of $2.34 and a fifty-two week high of $3.50. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.08 and a current ratio of 1.83.

B2Gold (NYSE:BTG) last posted its earnings results on Wednesday, November 6th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.03). B2Gold had a positive return on equity of 7.53% and a negative net margin of 38.42%. The company had revenue of $448.23 million for the quarter, compared to analyst estimates of $449.28 million. During the same period last year, the business earned $0.05 earnings per share. The firm’s revenue was down 6.2% on a year-over-year basis. Research analysts predict that B2Gold Corp. will post 0.23 earnings per share for the current year.

B2Gold Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Monday, December 2nd will be paid a $0.04 dividend. The ex-dividend date is Monday, December 2nd. This represents a $0.16 annualized dividend and a dividend yield of 5.86%. B2Gold’s dividend payout ratio is presently -28.57%.

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.