B2Gold Corp (TSE:BTO) has seen its price target revised by Stifel Nicolaus, dropping from C$11.50 to C$10.50, according to a research report released to investors on Tuesday, November 7, 2023. This adjustment reflects ongoing scrutiny of the company’s performance in an evolving market landscape.
Several other financial institutions have also weighed in on B2Gold’s stock. Notably, Bank of America increased its price objective from C$5.35 to C$6.25 just weeks prior, on October 16, 2023. Meanwhile, Cormark downgraded its rating from “moderate buy” to “hold” on November 7, 2023. Currently, one analyst has assigned a “Strong Buy” rating, two analysts recommend holding the stock, and another has issued a “Sell” rating. According to MarketBeat data, B2Gold holds an average rating of “Hold” with a price target of C$7.38.
B2Gold’s Recent Performance and Financials
On November 5, 2023, B2Gold reported earnings of C$0.01 per share for the latest quarter, alongside revenue of C$1.09 billion. The company has been facing challenges, reflected in a negative return on equity of 20.27% and a negative net margin of 38.20%. Analysts predict that B2Gold will achieve earnings per share of approximately 0.56 for the current fiscal year.
In a notable move for shareholders, B2Gold announced a quarterly dividend of $0.02 per share, which was paid to shareholders on September 23, 2023. The dividend yield stands at 1.4%, with a payout ratio of 66.67%. The ex-dividend date was September 10, 2023.
Insider Trades Reflect Market Sentiment
In recent insider trading activities, significant transactions were reported. Andrew Bruce Brown, an insider at B2Gold, sold 75,000 shares on October 6, 2023, at an average price of C$7.50, totaling C$562,500. Following this sale, he retained 17,333 shares valued at approximately C$129,998, marking an 81.23% reduction in his holdings.
Similarly, John Alex Rajala sold 142,857 shares on October 8, 2023, for a total of C$1,071,428, also at C$7.50 per share. After this transaction, Rajala owned 238,342 shares worth about C$1,787,565, reflecting a 37.48% decrease in his ownership. Over the past three months, insiders have sold a total of 1,253,993 shares, amounting to C$9,256,614. Currently, insiders hold 0.66% of B2Gold’s stock.
B2Gold Corp operates as an international, low-cost senior gold mining company with three active open-pit mines located in Mali, Namibia, and the Philippines. The firm is engaged in various exploration projects across four continents and focuses on acquiring and developing interests in gold deposits. The company’s assets also include the Gramalote and Kiaka gold projects.
As the market continues to evolve, B2Gold remains in the spotlight, with analysts and investors closely monitoring its performance and strategic decisions.
