Intact Investment Management Inc. Sells 4,759,940 Shares of B2Gold Corp. (NYSE:BTG)

Intact Investment Management Inc. reduced its stake in shares of B2Gold Corp. (NYSE:BTG) by 37.9% during the third quarter, Holdings Channel reports. The institutional investor owned 7,807,200 shares of the company’s stock after selling 4,759,940 shares during the quarter. Intact Investment Management Inc.’s holdings in B2Gold were worth $24,131,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of BTG. Van ECK Associates Corp grew its stake in shares of B2Gold by 40.6% during the third quarter. Van ECK Associates Corp now owns 166,079,133 shares of the company’s stock valued at $566,312,000 after buying an additional 47,967,010 shares during the last quarter. American Century Companies Inc. grew its stake in shares of B2Gold by 39.4% in the second quarter. American Century Companies Inc. now owns 12,284,484 shares of the company’s stock worth $33,053,000 after purchasing an additional 3,474,553 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of B2Gold by 80.0% in the second quarter. The Manufacturers Life Insurance Company now owns 7,450,283 shares of the company’s stock worth $19,957,000 after purchasing an additional 3,311,970 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of B2Gold in the second quarter worth about $6,912,000. Finally, Equinox Partners Investment Management LLC grew its stake in shares of B2Gold by 31.6% in the second quarter. Equinox Partners Investment Management LLC now owns 6,032,986 shares of the company’s stock worth $16,185,000 after purchasing an additional 1,450,000 shares during the last quarter. 61.40% of the stock is owned by institutional investors.

B2Gold Stock Performance

BTG stock opened at $3.29 on Monday. The firm’s 50 day simple moving average is $3.13. B2Gold Corp. has a 52-week low of $2.34 and a 52-week high of $3.50. The stock has a market capitalization of $4.32 billion, a price-to-earnings ratio of -29.91, a price-to-earnings-growth ratio of 2.72 and a beta of 1.13. The company has a quick ratio of 1.74, a current ratio of 2.93 and a debt-to-equity ratio of 0.01.

B2Gold (NYSE:BTG) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.02). B2Gold had a positive return on equity of 8.01% and a negative net margin of 7.44%. The firm had revenue of $492.57 million during the quarter. As a group, sell-side analysts forecast that B2Gold Corp. will post 0.25 earnings per share for the current fiscal year.

B2Gold Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Tuesday, September 10th were given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 4.86%. The ex-dividend date of this dividend was Tuesday, September 10th. B2Gold’s dividend payout ratio (DPR) is presently -145.45%.

Analyst Upgrades and Downgrades

BTG has been the topic of several recent analyst reports. Royal Bank of Canada reissued a “sector perform” rating and issued a $3.75 target price on shares of B2Gold in a research note on Tuesday, September 17th. Jefferies Financial Group raised their price objective on shares of B2Gold from $4.00 to $5.00 and gave the stock a “buy” rating in a report on Friday, October 4th. CIBC raised their price objective on shares of B2Gold from $3.30 to $3.60 and gave the stock a “neutral” rating in a report on Tuesday, September 24th. Cibc World Mkts lowered shares of B2Gold from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 24th. Finally, StockNews.com upgraded shares of B2Gold from a “hold” rating to a “buy” rating in a report on Saturday, August 17th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $4.12.

About B2Gold

B2Gold Corp. operates as a gold producer company. It operates the Fekola Mine in Mali, the Masbate Mine in the Philippines, and the Otjikoto Mine in Namibia. The company also has an 100% interest in the Gramalote gold project in Colombia; 24% interest in the Calibre Mining Corp.; and approximately 19% interest in BeMetals Corp.