The stock of B2Gold Corp. (NYSE:BTG) is now priced at $6.5 and the shares are -0.24 points down or -3.56% lower compared to its previous closing price of $6.74. BTG shares have a float of 1030 million and although its performance was 4.33% over the week, it’s one to watch. Analysts have given the BTG stock a yearly average price target of $3.5 per share. It means the stock’s downside potential is -46.15% with the BTG share price recently placing at $6.42 to $6.84. However, some brokerage firms have priced the stock below the average, including one that has called $6.82.
The shorts are running away from the B2Gold Corp. stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the BTG shares have declined. Short interest in the stock represents just 0.84% of its float, but the volume has dropped by 0.
In the last trading session, B2Gold Corp. (NYSE:BTG) raised by $0.27 over the week and lost -$0.71 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $7.55. The stock recorded its established 52-week high on 08/05/20.
Since 03/16/20, the stock has traded to a low of $2.16 at 200.93%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge.
Looking at current readings, B2Gold Corp.’s two-week RSI is 50.38. This suggests that the stock is neutral at the moment and that BTG shares’ price movement remains stable. The stochastic readings are equally revealing at 46.21% meaning the BTG share price is currently in neutral territory.
The technical chart shows that the BTG stock will likely settle at between $6.75 and $7.01 per share. However, if the stock dips below $6.33, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $6.17.
Currently, the stock is trading in the green of MACD, with a reading of 0.19. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at RBC Capital Mkts cut their recommendation for BTG from Outperform to Sector Perform in August 19 review. RBC Capital Mkts analysts see the stock as a Outperform in a flash note released to investors on December 05 resuming covering the stock. Canaccord Genuity analysts see the stock as Buy when the analysts initiated the share price coverage on April 24.
The average rating for the BTG equity is 1 and is currently gathering a bullish momentum. Of 1 analysts tracking B2Gold Corp. polled by Reuters, 0 rated BTG as a hold. The remaining 1 analysts were split evenly. However, the split wasn’t equal as a majority (1) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the BTG stock price is 30.95X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands at 16.3 below the group’s average of 23.7. B2Gold Corp. has its P/E ratio at 3.1, which means that the stock is currently trading at a premium relative to the 2.7 industry average.