B2Gold (NYSE:BTG) Downgraded to Underperform Rating by Bank of America

B2Gold (NYSE:BTG) was downgraded by investment analysts at Bank of America from a “buy” rating to an “underperform” rating in a research note issued on Tuesday, MarketBeat reports.

A number of other analysts have also weighed in on BTG. CIBC upped their price objective on B2Gold from $3.30 to $3.60 and gave the stock a “neutral” rating in a research report on Tuesday, September 24th. Royal Bank of Canada restated a “sector perform” rating and set a $3.75 price target on shares of B2Gold in a report on Tuesday, September 17th. Jefferies Financial Group lifted their price objective on B2Gold from $4.00 to $5.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Cibc World Mkts lowered shares of B2Gold from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Finally, StockNews.com cut shares of B2Gold from a “buy” rating to a “hold” rating in a report on Friday, November 8th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, B2Gold currently has a consensus rating of “Hold” and a consensus price target of $4.02.

B2Gold Price Performance

BTG opened at $2.44 on Tuesday. The stock’s 50-day moving average price is $2.66 and its 200 day moving average price is $2.89. B2Gold has a 12-month low of $2.34 and a 12-month high of $3.50. The firm has a market cap of $3.21 billion, a price-to-earnings ratio of -4.36, a PEG ratio of 0.53 and a beta of 1.09. The company has a current ratio of 1.83, a quick ratio of 1.08 and a debt-to-equity ratio of 0.07.

B2Gold (NYSE:BTG) last posted its quarterly earnings data 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 negative net margin of 38.42% and a positive return on equity of 7.53%. The business had revenue of $448.23 million during the quarter, compared to analysts’ expectations of $449.28 million. During the same period in the previous year, the business posted $0.05 EPS. The company’s revenue for the quarter was down 6.2% compared to the same quarter last year. As a group, sell-side analysts expect that B2Gold will post 0.23 earnings per share for the current year.

Institutional Trading of B2Gold

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BTG. Commonwealth Equity Services LLC grew its position in shares of B2Gold by 94.7% in the 2nd quarter. Commonwealth Equity Services LLC now owns 86,040 shares of the company’s stock valued at $232,000 after buying an additional 41,850 shares during the last quarter. American Century Companies Inc. boosted its stake in B2Gold by 39.4% in the second quarter. American Century Companies Inc. now owns 12,284,484 shares of the company’s stock valued at $33,053,000 after acquiring an additional 3,474,553 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new position in shares of B2Gold during the second quarter worth about $927,000. Rathbones Group PLC increased its position in shares of B2Gold by 25.1% during the second quarter. Rathbones Group PLC now owns 101,122 shares of the company’s stock worth $272,000 after purchasing an additional 20,317 shares in the last quarter. Finally, XTX Topco Ltd lifted its holdings in shares of B2Gold by 19.0% in the 2nd quarter. XTX Topco Ltd now owns 191,010 shares of the company’s stock valued at $516,000 after purchasing an additional 30,539 shares during the last quarter. Institutional investors and hedge funds own 61.40% of the company’s stock.

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.