B2Gold Corp. (NYSEAMERICAN:BTG) Sees Large Drop in Short Interest

B2Gold Corp. (NYSEAMERICAN:BTGGet Rating) (TSE:BTO) was the target of a significant drop in short interest in March. As of March 31st, there was short interest totalling 6,610,000 shares, a drop of 31.4% from the March 15th total of 9,640,000 shares. Based on an average daily volume of 11,620,000 shares, the short-interest ratio is currently 0.6 days. Approximately 0.6% of the company’s stock are sold short.

Several institutional investors have recently modified their holdings of BTG. Amundi Pioneer Asset Management Inc. boosted its stake in shares of B2Gold by 32.8% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 4,363,967 shares of the basic materials company’s stock worth $12,263,000 after acquiring an additional 1,077,927 shares during the last quarter. Morgan Stanley boosted its stake in shares of B2Gold by 0.7% during the 2nd quarter. Morgan Stanley now owns 5,003,288 shares of the basic materials company’s stock worth $21,064,000 after acquiring an additional 34,992 shares during the last quarter. Thrivent Financial for Lutherans purchased a new position in shares of B2Gold during the 2nd quarter worth $47,000. International Assets Investment Management LLC purchased a new position in shares of B2Gold during the 3rd quarter worth $43,000. Finally, Signaturefd LLC raised its position in shares of B2Gold by 129.7% during the 3rd quarter. Signaturefd LLC now owns 27,151 shares of the basic materials company’s stock valued at $93,000 after purchasing an additional 15,333 shares during the period. Institutional investors and hedge funds own 52.70% of the company’s stock.

A number of equities analysts have weighed in on the stock. Scotiabank decreased their target price on shares of B2Gold from C$9.00 to C$8.00 in a research note on Tuesday, January 11th. BMO Capital Markets cut their price target on shares of B2Gold from C$8.00 to C$7.00 in a report on Thursday, January 20th. Canaccord Genuity Group cut their price target on shares of B2Gold from C$8.50 to C$8.00 in a report on Thursday, January 27th. Raymond James cut their price target on shares of B2Gold from $6.00 to $5.50 and set an “outperform” rating on the stock in a report on Tuesday, March 22nd. Finally, Stifel Nicolaus cut their price target on shares of B2Gold from C$9.50 to C$9.00 in a report on Thursday, January 20th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $6.95.

BTG stock traded up $0.05 on Friday, hitting $4.97. The company had a trading volume of 9,386,052 shares, compared to its average volume of 11,369,956. B2Gold has a 12-month low of $3.30 and a 12-month high of $5.37. The company has a current ratio of 4.89, a quick ratio of 3.54 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $5.25 billion, a P/E ratio of 11.56 and a beta of 1.01.

B2Gold (NYSEAMERICAN:BTGGet Rating) (TSE:BTO) last issued its earnings results on Monday, February 21st. The basic materials company reported $0.11 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.11. B2Gold had a net margin of 26.32% and a return on equity of 15.30%. As a group, equities analysts predict that B2Gold will post 0.4 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, March 17th. Investors of record on Wednesday, March 9th were issued a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 3.22%. The ex-dividend date was Tuesday, March 8th. B2Gold’s dividend payout ratio is currently 37.21%.

About B2Gold (Get Rating)

B2Gold Corp. operates as a gold producer with three operating mines in Mali, the Philippines, and Namibia. It operates the Fekola Mine in Mali, the Masbate Mine in the Philippines, and the Otjikoto Mine in Namibia. The company also has an 25% interest in the Calibre Mining Corp.; and approximately 19% interest in BeMetals Corp.

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