Royal Bank of Canada Trims B2Gold (NYSEAMERICAN:BTG) Target Price to $3.50

B2Gold (NYSEAMERICAN:BTG) (TSE:BTO) had its price objective cut by equities researchers at Royal Bank of Canada from $4.00 to $3.50 in a research note issued to investors on Thursday, BayStreet.CA reports. The brokerage presently has a “sector perform” rating on the basic materials company’s stock. Royal Bank of Canada’s target price suggests a potential upside of 35.14% from the stock’s current price.

BTG has been the subject of several other reports. Jefferies Financial Group assumed coverage on shares of B2Gold in a research note on Thursday, February 29th. They issued a “buy” rating and a $3.50 price target for the company. CIBC downgraded shares of B2Gold from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $4.20 to $3.60 in a research report on Thursday, January 25th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, B2Gold has a consensus rating of “Moderate Buy” and a consensus price target of $5.10.

B2Gold Price Performance

BTG stock traded up $0.05 during trading on Thursday, reaching $2.59. 8,418,601 shares of the company were exchanged, compared to its average volume of 10,486,922. The company has a market capitalization of $3.37 billion, a P/E ratio of 130.07, a price-to-earnings-growth ratio of 5.68 and a beta of 1.08. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.27 and a quick ratio of 1.16. The business’s 50-day moving average is $2.95. B2Gold has a twelve month low of $2.34 and a twelve month high of $4.40.

B2Gold (NYSEAMERICAN:BTG) (TSE:BTO) last released its quarterly earnings results on Thursday, February 22nd. The basic materials company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.01). The business had revenue of $511.97 million for the quarter, compared to the consensus estimate of $512.00 million. B2Gold had a net margin of 0.31% and a return on equity of 9.09%. B2Gold’s revenue was down 13.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.15 EPS. On average, analysts forecast that B2Gold will post 0.2 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of BTG. Peapack Gladstone Financial Corp boosted its position in B2Gold by 13.0% during the first quarter. Peapack Gladstone Financial Corp now owns 26,023 shares of the basic materials company’s stock worth $103,000 after purchasing an additional 3,000 shares during the period. Commonwealth Equity Services LLC boosted its position in shares of B2Gold by 10.4% during the 3rd quarter. Commonwealth Equity Services LLC now owns 38,054 shares of the basic materials company’s stock valued at $122,000 after acquiring an additional 3,600 shares during the last quarter. LPL Financial LLC grew its holdings in shares of B2Gold by 4.5% during the fourth quarter. LPL Financial LLC now owns 87,895 shares of the basic materials company’s stock worth $314,000 after purchasing an additional 3,800 shares in the last quarter. Bank of Nova Scotia increased its position in shares of B2Gold by 4.7% in the third quarter. Bank of Nova Scotia now owns 92,937 shares of the basic materials company’s stock worth $267,000 after purchasing an additional 4,155 shares during the last quarter. Finally, Seven Mile Advisory lifted its position in B2Gold by 25.2% during the fourth quarter. Seven Mile Advisory now owns 20,731 shares of the basic materials company’s stock valued at $66,000 after purchasing an additional 4,173 shares during the last quarter. Institutional investors 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.