JP Morgan slashes price target on B2Gold Corp. [BTG] – find out why.

B2Gold Corp. [AMEX: BTG] gained 3.72% or 0.15 points to close at $4.18 with a heavy trading volume of 14079670 shares. The company report on December 29, 2022 that B2Gold Reports Two Fatalities from Off-Site Incident in Mali.

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B2Gold Corp. (TSX: BTO) (NYSE AMERICAN: BTG) (NSX: B2G) (“B2Gold” or the “Company”) deeply regrets to report that two B2Gold employees have passed away as a result of injuries sustained in an off-site robbery incident in Mali earlier today. All reports have identified this tragic event as the result of a robbery incident and not related to any terrorist activity.

A local bus contractor, traveling under gendarme escort, transporting B2Gold employees from the Fekola Mine to Bamako was involved in an incident when it encountered an ongoing armed robbery approximately 75 kilometers west of Bamako. Security forces accompanying the bus transport supported the safety of B2Gold personnel, but unfortunately the incident resulted in the death of two employees. Initial reports indicate all other employees on the bus have been safely accounted for and are being transported to Bamako for assistance.

It opened the trading session at $4.04, the shares rose to $4.19 and dropped to $4.00, the range by which the price of stock traded the whole day. The daily chart for BTG points out that the company has recorded 31.45% gains over the past six months. However, it is still -48.75% lower than its most recent low trading price.

If we look at the average trading volume of 10.20M shares, BTG reached to a volume of 14079670 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about B2Gold Corp. [BTG]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for BTG shares is $5.02 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on BTG stock is a recommendation set at 1.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

JP Morgan have made an estimate for B2Gold Corp. shares, keeping their opinion on the stock as Underweight, with their previous recommendation back on December 10, 2021. While these analysts kept the previous recommendation, JP Morgan raised their target price to Neutral. The new note on the price target was released on February 10, 2021, representing the official price target for B2Gold Corp. stock.

The Average True Range (ATR) for B2Gold Corp. is set at 0.14, with the Price to Sales ratio for BTG stock in the period of the last 12 months amounting to 2.70. The Price to Book ratio for the last quarter was 1.56.

Trading performance analysis for BTG stock

B2Gold Corp. [BTG] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 6.63. With this latest performance, BTG shares gained by 16.76% in over the last four-week period, additionally plugging by 31.45% over the last 6 months – not to mention a rise of 12.97% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for BTG stock in for the last two-week period is set at 72.88, with the RSI for the last a single of trading hit 78.76, and the three-weeks RSI is set at 68.45 for B2Gold Corp. [BTG]. The present Moving Average for the last 50 days of trading for this stock 3.51, while it was recorded at 3.98 for the last single week of trading, and 3.62 for the last 200 days.

B2Gold Corp. [BTG]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and B2Gold Corp. [BTG] shares currently have an operating margin of +39.31 and a Gross Margin at +43.61. B2Gold Corp.’s Net Margin is presently recorded at +23.84.

Return on Equity for this stock inclined to 15.29, with Return on Assets sitting at 11.99.

B2Gold Corp. [BTG]: An earnings per share (EPS) analysis

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for BTG. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for B2Gold Corp. go to 20.00%.

An analysis of insider ownership at B2Gold Corp. [BTG]

There are presently around $2,352 million, or 68.45% of BTG stock, in the hands of institutional investors. The top three institutional holders of BTG stocks are: VAN ECK ASSOCIATES CORP with ownership of 109,450,322, which is approximately -2.396% of the company’s market cap and around 1.10% of the total institutional ownership; FMR LLC, holding 88,041,976 shares of the stock with an approximate value of $368.01 million in BTG stocks shares; and ROYAL BANK OF CANADA, currently with $176.69 million in BTG stock with ownership of nearly 47.942% of the company’s market capitalization.

Positions in B2Gold Corp. stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 101 institutional holders increased their position in B2Gold Corp. [AMEX:BTG] by around 43,778,924 shares. Additionally, 95 investors decreased positions by around 42,705,432 shares, while 45 investors held positions by with 476,308,916 shares. The mentioned changes placed institutional holdings at 562,793,272 shares, according to the latest SEC report filing. BTG stock had 29 new institutional investments in for a total of 6,875,601 shares, while 31 institutional investors sold positions of 1,225,499 shares during the same period.


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