Royal Bank of Canada Boosts B2Gold (NYSE:BTG) Price Target to $3.75

B2Gold (NYSE:BTG) had its price target lifted by equities researchers at Royal Bank of Canada from $3.50 to $3.75 in a note issued to investors on Tuesday, BayStreet.CA reports. The firm currently has a “sector perform” rating on the stock. Royal Bank of Canada’s price objective indicates a potential upside of 39.41% from the company’s current price.

BTG has been the subject of several other research reports. StockNews.com upgraded shares of B2Gold from a “hold” rating to a “buy” rating in a report on Saturday, August 17th. Scotiabank lowered B2Gold from a “strong-buy” rating to a “hold” rating in a report on Friday, August 9th. Cibc World Mkts raised B2Gold from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 14th. CIBC raised their price target on B2Gold from $3.40 to $3.50 and gave the stock a “neutral” rating in a research note on Wednesday, July 10th. Finally, Cormark cut B2Gold from a “moderate buy” rating to a “hold” rating in a research note on Monday, August 12th. Four investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $3.75.

B2Gold Trading Up 1.1 %

NYSE:BTG traded up $0.03 during trading hours on Tuesday, hitting $2.69. The company’s stock had a trading volume of 4,826,161 shares, compared to its average volume of 11,413,673. The company has a market capitalization of $3.53 billion, a PE ratio of -89.64, a P/E/G ratio of 0.41 and a beta of 1.14. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.93 and a quick ratio of 1.74. The company has a fifty day simple moving average of $2.82. B2Gold has a 52-week low of $2.34 and a 52-week high of $3.46.

B2Gold (NYSE:BTG) last issued its earnings results on Thursday, August 8th. The company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.02). The business had revenue of $492.57 million for the quarter. B2Gold had a positive return on equity of 8.01% and a negative net margin of 7.44%. On average, sell-side analysts forecast that B2Gold will post 0.28 earnings per share for the current year.

Hedge Funds Weigh In On B2Gold

Institutional investors have recently made changes to their positions in the stock. 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 purchasing an additional 7,974 shares during the period. Headlands Technologies LLC raised its position in shares of B2Gold by 32.8% in the 2nd quarter. Headlands Technologies LLC now owns 34,250 shares of the company’s stock worth $92,000 after buying an additional 8,463 shares during the period. Raymond James Trust N.A. boosted its holdings in B2Gold by 69.3% in the second quarter. Raymond James Trust N.A. now owns 22,615 shares of the company’s stock valued at $61,000 after acquiring an additional 9,258 shares during the last quarter. KPP Advisory Services LLC grew its position in B2Gold by 53.6% during the second quarter. KPP Advisory Services LLC now owns 35,250 shares of the company’s stock valued at $95,000 after acquiring an additional 12,300 shares during the period. Finally, Continuum Advisory LLC acquired a new stake in B2Gold during the second quarter worth about $40,000. 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.