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

Shares of B2Gold Corp. (TSE:BTO) (NYSE:BTG) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$5.39 and traded as high as C$6.89. B2Gold shares last traded at C$6.82, with a volume of 4,575,515 shares.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on BTO. Bank of America upped their price target on shares of B2Gold from C$5.35 to C$6.25 in a research note on Thursday, October 16th. Stifel Nicolaus upped their target price on B2Gold from C$7.50 to C$11.50 in a research report on Monday, October 20th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, B2Gold has a consensus rating of “Hold” and a consensus price target of C$7.63.

B2Gold Stock Performance

The company has a current ratio of 1.83, a quick ratio of 3.33 and a debt-to-equity ratio of 7.51. The firm has a 50-day moving average of C$6.61 and a 200-day moving average of C$5.39. The stock has a market capitalization of C$9.02 billion, a price-to-earnings ratio of -19.49, a P/E/G ratio of -0.27 and a beta of 0.82.

B2Gold Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 23rd. Shareholders of record on Tuesday, September 23rd were issued a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Wednesday, September 10th. B2Gold’s dividend payout ratio is presently -34.29%.

Insider Buying and Selling

In other B2Gold news, insider Peter Dominic Montano sold 147,000 shares of the company’s stock in a transaction on Wednesday, October 8th. The shares were sold at an average price of C$7.49, for a total value of C$1,101,030.00. Following the sale, the insider directly owned -1,405 shares of the company’s stock, valued at approximately C($10,523.45). This represents a 100.97% decrease in their ownership of the stock. Also, insider Randall Chatwin sold 7,000 shares of the company’s stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of C$5.33, for a total transaction of C$37,310.00. Following the completion of the sale, the insider directly owned 40,199 shares in the company, valued at approximately C$214,260.67. The trade was a 14.83% decrease in their ownership of the stock. Insiders sold 1,305,095 shares of company stock valued at $9,529,870 in the last 90 days. 0.66% of the stock is currently owned by insiders.

About B2Gold

B2Gold Corp is an international, low-cost, senior gold mining company. It has three operating open-pit gold mines in Mali, Namibia, and the Philippines and numerous exploration projects across four continents. Other significant assets include the Gramalote and Kiaka gold projects. The company focuses on acquiring and developing interests in mineral properties with a primary focus on gold deposits as gold production forms all its revenue.