Short Interest in B2Gold Corp (BTG) Grows By 20.4%

B2Gold Corp (NYSE:BTG) (TSE:BTO) saw a large growth in short interest in August. As of August 31st, there was short interest totalling 11,131,925 shares, a growth of 20.4% from the August 15th total of 9,249,165 shares. Approximately 1.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 2,270,502 shares, the days-to-cover ratio is presently 4.9 days.

Shares of B2Gold Corp (BTG) opened at 2.69 on Friday. B2Gold Corp has a one year low of $2.02 and a one year high of $3.55. The company has a market capitalization of $2.64 billion and a price-to-earnings ratio of 45.68. The company’s 50 day moving average is $2.59 and its 200 day moving average is $2.69.

BTG has been the subject of several analyst reports. Zacks Investment Research cut shares of B2Gold Corp from a “hold” rating to a “sell” rating in a research report on Friday, July 14th. ValuEngine cut shares of B2Gold Corp from a “hold” rating to a “sell” rating in a research report on Friday, July 7th. BidaskClub cut shares of B2Gold Corp from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Finally, National Bank Financial restated a “sector perform market weight” rating on shares of B2Gold Corp in a research report on Monday, July 31st. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $4.50.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. BlueCrest Capital Management Ltd purchased a new position in shares of B2Gold Corp during the second quarter worth approximately $112,000. Virtu Financial LLC bought a new position in shares of B2Gold Corp in the second quarter worth approximately $120,000. Alliancebernstein L.P. bought a new position in shares of B2Gold Corp in the second quarter worth approximately $124,000. World Asset Management Inc bought a new position in shares of B2Gold Corp in the second quarter worth approximately $155,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of B2Gold Corp by 18.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 70,650 shares of the basic materials company’s stock worth $199,000 after purchasing an additional 10,800 shares during the last quarter.

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