Manitou Investment Management Ltd. cut its stake in B2Gold Corp. (NYSEAMERICAN:BTG) (TSE:BTO) by 50.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,000 shares of the basic materials company’s stock after selling 11,000 shares during the period. Manitou Investment Management Ltd.’s holdings in B2Gold were worth $36,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
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Several other hedge funds also recently bought and sold shares of BTG. Brookstone Capital Management purchased a new position in shares of B2Gold during the third quarter worth $36,000. Meritage Portfolio Management acquired a new stake in shares of B2Gold in the third quarter valued at $50,000. Sicart Associates LLC acquired a new stake in shares of B2Gold in the third quarter valued at $91,000. SG Americas Securities LLC acquired a new stake in shares of B2Gold in the third quarter valued at $94,000. Finally, Tuttle Tactical Management acquired a new stake in shares of B2Gold in the second quarter valued at $134,000.
Shares of B2Gold stock traded down $0.02 during trading on Friday, hitting $3.51. 4,527,083 shares of the company were exchanged, compared to its average volume of 5,730,332. B2Gold Corp. has a fifty-two week low of $2.40 and a fifty-two week high of $4.02.
B2Gold (NYSEAMERICAN:BTG) (TSE:BTO) last issued its quarterly earnings results on Tuesday, November 5th. The basic materials company reported $0.09 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.07 by $0.02. The business had revenue of $310.78 million during the quarter.
A number of analysts have weighed in on the company. Scotiabank set a $5.30 price target on B2Gold and gave the company a “buy” rating in a research note on Wednesday, September 18th. TheStreet upgraded B2Gold from a “c” rating to a “b-” rating in a research note on Friday, August 16th. Finally, Raymond James reaffirmed a “buy” rating and set a $6.25 price objective on shares of B2Gold in a report on Friday, November 8th. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company. B2Gold currently has a consensus rating of “Buy” and a consensus price target of $4.68.
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.