B2Gold (TSE:BTO) Stock Breaks Above 200-Day Moving Average – Here’s Why

B2Gold Corp. (TSE:BTO) (NYSE:BTG) crossed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of C$6.50 and traded as high as C$7.27. B2Gold shares last traded at C$7.12, with a volume of 2,875,574 shares changing hands.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on BTO shares. ATB Cormark Capital Markets upgraded B2Gold from a “hold” rating to a “moderate buy” rating and boosted their target price for the stock from C$6.50 to C$11.00 in a research note on Monday, August 10th. Scotiabank upgraded shares of B2Gold from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 10th. National Bank Financial lowered their price target on B2Gold from C$10.70 to C$9.75 and set an “outperform” rating for the company in a research report on Tuesday, July 14th. Canadian Imperial Bank of Commerce upgraded shares of B2Gold from a “hold” rating to a “strong-buy” rating in a report on Monday, August 10th. Finally, TD Securities raised shares of B2Gold from a “hold” rating to a “strong-buy” rating in a report on Monday, August 10th. Three analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, B2Gold presently has an average rating of “Buy” and a consensus price target of C$9.33.

B2Gold Stock Up 2.6%

The stock has a market cap of C$9.88 billion, a PE ratio of 13.36, a price-to-earnings-growth ratio of -0.27 and a beta of 1.86. The business has a 50-day moving average price of C$7.27 and a 200-day moving average price of C$6.52. The company has a current ratio of 1.58, a quick ratio of 3.33 and a debt-to-equity ratio of 11.48.

B2Gold (TSE:BTO) (NYSE:BTG) last released its earnings results on Thursday, August 6th. The company reported C$0.04 EPS for the quarter. B2Gold had a net margin of 21.20% and a return on equity of 21.87%. The business had revenue of C$1.12 billion during the quarter. As a group, analysts forecast that B2Gold Corp. will post 0.5596659 earnings per share for the current year.

B2Gold Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 23rd. Investors of record on Wednesday, September 23rd were issued a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Thursday, September 10th. B2Gold’s dividend payout ratio (DPR) is currently 14.29%.

Insider Transactions at B2Gold

In other news, Director Jerry Korpan sold 200,000 shares of the company’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of C$7.06, for a total value of C$1,412,000.00. Following the transaction, the director owned 2,280,000 shares of the company’s stock, valued at C$16,096,800. This represents a 8.06% decrease in their position. Also, insider William Lytle sold 177,190 shares of B2Gold stock in a transaction dated Monday, August 10th. The shares were sold at an average price of C$7.16, for a total transaction of C$1,268,680.40. Following the sale, the insider owned 41,285 shares of the company’s stock, valued at approximately C$295,600.60. This represents a 81.10% decrease in their ownership of the stock. Corporate insiders own 0.66% of the company’s stock.

B2Gold Company Profile

B2Gold is a responsible international gold producer headquartered in Vancouver, Canada. Founded in 2007, today, B2Gold has operating gold mines in Canada, Mali, Namibia and the Philippines, and numerous development and exploration projects in various countries.