B2Gold Corp. (NYSEAMERICAN:BTG) (TSE:BTO) was the recipient of a large decline in short interest in the month of March. As of March 13th, there was short interest totalling 6,363,400 shares, a decline of 38.5% from the February 27th total of 10,340,000 shares. Based on an average daily trading volume, of 7,390,000 shares, the days-to-cover ratio is presently 0.9 days. Approximately 0.6% of the company’s shares are sold short.
A number of hedge funds and other institutional investors have recently modified their holdings of BTG. Norges Bank purchased a new stake in B2Gold during the 4th quarter worth about $58,256,000. TD Asset Management Inc. boosted its position in shares of B2Gold by 62.8% during the 4th quarter. TD Asset Management Inc. now owns 14,126,924 shares of the basic materials company’s stock worth $56,758,000 after acquiring an additional 5,450,912 shares in the last quarter. Van ECK Associates Corp boosted its position in shares of B2Gold by 4.5% during the 4th quarter. Van ECK Associates Corp now owns 127,443,564 shares of the basic materials company’s stock worth $511,049,000 after acquiring an additional 5,450,265 shares in the last quarter. Man Group plc boosted its position in shares of B2Gold by 52.5% during the 3rd quarter. Man Group plc now owns 10,074,795 shares of the basic materials company’s stock worth $32,796,000 after acquiring an additional 3,469,933 shares in the last quarter. Finally, UBS Group AG boosted its position in shares of B2Gold by 350.6% during the 4th quarter. UBS Group AG now owns 2,185,612 shares of the basic materials company’s stock worth $8,764,000 after acquiring an additional 1,700,600 shares in the last quarter.
Several equities research analysts recently issued reports on the company. TD Securities upgraded B2Gold to a “buy” rating in a report on Friday, January 10th. Royal Bank of Canada reiterated a “buy” rating and issued a $4.50 price objective on shares of B2Gold in a report on Wednesday. Finally, CIBC restated a “buy” rating and set a $4.50 price target on shares of B2Gold in a report on Thursday, January 23rd. Seven research analysts have rated the stock with a buy rating, The stock has a consensus rating of “Buy” and a consensus target price of $4.91.
B2Gold (NYSEAMERICAN:BTG) (TSE:BTO) last issued its quarterly earnings results on Thursday, February 27th. The basic materials company reported $0.07 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.07. The company had revenue of $313.66 million for the quarter.
The business also recently declared a quarterly dividend, which was paid on Monday, March 23rd. Shareholders of record on Monday, March 9th were issued a dividend of $0.01 per share. The ex-dividend date of this dividend was Friday, March 6th. This represents a $0.04 annualized dividend and a yield of 1.13%.
B2Gold Corp., together with its subsidiaries, engages in the exploration and development of mineral properties in Nicaragua, the Philippines, Mali, Colombia, Burkina Faso, Finland, and Namibia. It primarily explores for gold and silver deposits. The company primarily holds 80% interest in Fekola mine, an open pit gold mine located in Mali; 90% interest in Otjikoto gold mine located north of Windhoek, Namibia; Masbate gold project located in the south-east of Manila, the Philippines; and 95% interest in El Limon mine, an underground gold mine located in northwestern Nicaragua.
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