Stifel Nicolaus Increases B2Gold Price Target to C$6.50

B2Gold Corp. (TSE:BTO – Free Report) (NYSE:BTG) experienced a positive change in its price target as Stifel Nicolaus raised it from C$6.00 to C$6.50, according to a report released on Monday.

In addition to Stifel Nicolaus's adjustment, several other analysts have provided their insights on B2Gold. For instance, CIBC World Markets downgraded B2Gold from a "strong-buy" to a "hold" rating in a report dated September 24th. Meanwhile, Cormark adjusted their price objective for B2Gold upward from C$4.25 to C$5.25 in their report on September 23rd.

Another notable mention is Canaccord Genuity Group, which lowered its target price from C$7.50 to C$7.00 while maintaining a "buy" rating for the stock in a research note from August 13th. CIBC set a more conservative price target of C$3.30, rating the company as an "outperform" in a report on August 14th. Finally, Scotiabank moved B2Gold's rating from "outperform" to "sector perform" back on August 9th.

Overall, investment analysts have diverse opinions on B2Gold, with three analysts recommending a hold rating, seven giving a buy rating, and one assigning a strong buy ranking. MarketBeat.com’s data indicates that B2Gold currently holds a consensus rating of "Moderate Buy" with an average target price of C$5.93.

B2Gold Stock Performance

On the trading day when the report was released, B2Gold's stock opened at C$4.70. The company has a market cap of C$6.16 billion and a price-to-earnings ratio of -27.65. Currently, B2Gold has a debt-to-equity ratio of 1.05, a current ratio of 2.93, and a quick ratio of 3.33. Additionally, the stock has demonstrated a 50-day moving average of C$4.08 and a 200-day moving average of C$3.88, with a yearly low of C$3.18 and a high of C$4.84.

In its most recent earnings report released on August 8th, B2Gold reported earnings of C$0.08 per share for the quarter, which fell short of the consensus estimate of C$0.10 by C($0.02). The company recorded a revenue of C$673.95 million during that quarter, with a negative net margin of 7.23% and a negative return on equity of 3.47%. Analysts are predicting B2Gold will post earnings per share of about 0.56 for the current year.

B2Gold Dividend Announcement

B2Gold has also declared a quarterly dividend, which was paid out on September 23rd. Shareholders of record on that date received a dividend of $0.055. The ex-dividend date was September 10th. This results in an annualized dividend of $0.22, reflecting a dividend yield of 4.68%. It’s important to note that B2Gold's dividend payout ratio currently stands at -129.41%.

Insider Trading Activity

In related news, B2Gold has seen some insider activity. Senior Officer Randall Chatwin sold 10,000 shares on September 16th, at an average price of C$4.53, resulting in a total transaction value of C$45,300. Additionally, Senior Officer Ninette Krohnert sold 16,175 shares at an average price of C$4.11 on October 9th, totaling approximately C$66,479.25. Over the past three months, insiders have sold 87,449 shares worth approximately $384,111, while company insiders own about 0.66% of B2Gold's stock.

B2Gold Company Overview

B2Gold Corp. is recognized as a gold producer operating major locations such as the Fekola Mine in Mali, the Masbate Mine in the Philippines, and the Otjikoto Mine in Namibia. Moreover, the company owns a 100% interest in the Gramalote gold project in Colombia, 24% interest in Calibre Mining Corp., and approximately 19% interest in BeMetals Corp.

B2Gold, Stocks, Target