Guggenheim Capital LLC Trims Stock Position in B2Gold Corp. (NYSEAMERICAN:BTG)

Posted by Defense World Staff on Mar 5th, 2023

Guggenheim Capital LLC lowered its position in shares of B2Gold Corp. (NYSEAMERICAN:BTG – Get Rating) (TSE:BTO) by 29.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 511,252 shares of the basic materials company’s stock after selling 212,196 shares during the period. Guggenheim Capital LLC’s holdings in B2Gold were worth $1,647,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its stake in B2Gold by 215.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 9,336,820 shares of the basic materials company’s stock worth $42,858,000 after buying an additional 6,381,243 shares in the last quarter. Renaissance Technologies LLC grew its stake in B2Gold by 13.2% in the 2nd quarter. Renaissance Technologies LLC now owns 36,311,055 shares of the basic materials company’s stock worth $123,094,000 after buying an additional 4,240,300 shares in the last quarter. Allianz Asset Management GmbH grew its stake in B2Gold by 30.7% in the 1st quarter. Allianz Asset Management GmbH now owns 10,786,064 shares of the basic materials company’s stock worth $49,567,000 after buying an additional 2,535,114 shares in the last quarter. Vanguard Group Inc. grew its stake in B2Gold by 5.4% in the 1st quarter. Vanguard Group Inc. now owns 35,108,400 shares of the basic materials company’s stock worth $161,147,000 after buying an additional 1,788,367 shares in the last quarter. Finally, Gabelli Funds LLC grew its stake in B2Gold by 44.0% in the 1st quarter. Gabelli Funds LLC now owns 4,181,000 shares of the basic materials company’s stock worth $19,191,000 after buying an additional 1,277,000 shares in the last quarter. Hedge funds and other institutional investors own 52.20% of the company’s stock.

B2Gold Stock Performance

NYSEAMERICAN:BTG opened at $3.58 on Friday. B2Gold Corp. has a 52 week low of $2.81 and a 52 week high of $5.07. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.21 and a quick ratio of 3.51. The firm has a market cap of $3.85 billion, a P/E ratio of 14.32 and a beta of 0.91.

B2Gold Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 17th. Investors of record on Wednesday, March 8th will be issued a dividend of $0.04 per share. The ex-dividend date is Tuesday, March 7th. This represents a $0.16 dividend on an annualized basis and a yield of 4.47%. B2Gold’s dividend payout ratio is currently 64.00%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on BTG shares. National Bank Financial cut their price objective on shares of B2Gold from C$6.75 to C$6.50 in a research note on Tuesday, February 28th. BMO Capital Markets cut their price objective on shares of B2Gold from C$7.50 to C$7.00 in a research note on Thursday, January 19th. Stifel Nicolaus cut their price objective on shares of B2Gold from C$7.25 to C$7.00 in a research note on Wednesday, November 23rd. Finally, CIBC cut shares of B2Gold from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $5.00 to $4.75 in a research note on Monday, January 30th. One investment analyst has rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, B2Gold presently has an average rating of “Moderate Buy” and a consensus price target of $6.46.

About B2Gold

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B2Gold Corp. is an exploration company, which engages in the acquisition and development of mineral properties. It operates through the following segments: Fekola Mine, Otjikoto Mine, Masbate Mine, Libertad Mine, and Limon Mine. The company was founded by Mark Anthony Corra, Thomas A. Garagan, Clive Thomas Johnson and Roger Thomas Richer on November 30, 2006 and is headquartered in Vancouver, Canada.