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

B2Gold Corp. (TSE:BTO) (NYSE:BTG)’s share price crossed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of C$6.60 and traded as high as C$6.86. B2Gold shares last traded at C$6.69, with a volume of 3,694,166 shares trading hands.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Canadian Imperial Bank of Commerce upgraded B2Gold from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 10th. TD Securities upgraded B2Gold from a “hold” rating to a “strong-buy” rating in a report on Monday, August 10th. National Bank Financial cut their target price on B2Gold from C$10.70 to C$9.75 and set an “outperform” rating on the stock in a research note on Tuesday, July 14th. ATB Cormark Capital Markets upgraded B2Gold from a “hold” rating to a “moderate buy” rating and raised their target price for the stock from C$6.50 to C$11.00 in a report on Monday, August 10th. Finally, TD upgraded B2Gold from a “hold” rating to a “buy” rating and boosted their target price for the stock from C$6.00 to C$8.50 in a research report on Monday, August 10th. Three equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of C$9.95.

B2Gold Stock Performance

The stock has a fifty day moving average of C$7.47 and a 200-day moving average of C$6.60. The firm has a market capitalization of C$8.84 billion, a P/E ratio of 11.95, a P/E/G ratio of -0.27 and a beta of 1.86. The company has a quick ratio of 3.33, a current ratio of 1.58 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 earnings per share for the quarter. The business had revenue of C$1.12 billion during the quarter. B2Gold had a net margin of 21.20% and a return on equity of 21.87%. On average, research analysts anticipate that B2Gold Corp. will post 0.56 EPS for the current year.

B2Gold Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 23rd. Investors of record on Wednesday, September 23rd were issued a dividend of $0.02 per share. The ex-dividend date of this dividend was Thursday, September 10th. This represents a $0.08 annualized dividend and a dividend yield of 1.2%. B2Gold’s payout ratio is presently 14.29%.

Insider Buying and Selling

In other news, insider William Lytle sold 177,190 shares of the firm’s stock in a transaction that occurred on 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 transaction, the insider directly owned 41,285 shares of the company’s stock, valued at approximately C$295,600.60. This trade represents a 81.10% decrease in their ownership of the stock. Also, Director Jerry Korpan sold 200,000 shares of the firm’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 in the company, valued at approximately C$16,096,800. This trade represents a 8.06% decrease in their position. Insiders own 0.66% of the company’s stock.

About B2Gold

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.