The stock of B2Gold Corp. (TSE:BTO) gapped up by $0.05 today and has $4.69 target or 30.00% above today’s $3.61 share price. The 7 months technical chart setup indicates low risk for the $3.49B company. The gap was reported on Oct, 19 by Barchart.com. If the $4.69 price target is reached, the company will be worth $1.05B more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. About 4.66 million shares traded hands. B2Gold Corp. (TSE:BTO) has risen 99.43% since March 14, 2016 and is uptrending. It has outperformed by 93.89% the S&P500.
B2Gold Corp. (TSE:BTO) Ratings Coverage
Out of 5 analysts covering B2gold Corp. (TSE:BTO), 5 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. B2gold Corp. has been the topic of 14 analyst reports since August 18, 2015 according to StockzIntelligence Inc. Scotia Capital maintained B2Gold Corp. (TSE:BTO) rating on Friday, October 14. Scotia Capital has “Outperform” rating and $4.75 price target. The rating was maintained by RBC Capital Markets on Monday, August 24 with “Outperform”. The stock of B2Gold Corp. (TSE:BTO) earned “Buy” rating by Dundee Securities on Tuesday, September 20. The stock of B2Gold Corp. (TSE:BTO) earned “Buy” rating by Dundee Securities on Thursday, February 4. The rating was initiated by JP Morgan with “Overweight” on Thursday, February 4.
More recent B2Gold Corp. (TSE:BTO) news were published by: Marketwired.com which released: “B2Gold Corp.: Notice of Philippines DENR (Department of Environment and …” on October 18, 2016. Also Seekingalpha.com published the news titled: “B2Gold: A Solid Quarter, But Is It Time To Buy?” on October 18, 2016. Business.Financialpost.com‘s news article titled: “B2Gold Corp upgraded to buy at Dundee” with publication date: September 20, 2016 was also an interesting one.
B2Gold Corp. is a Canada-based gold producer with approximately four operating mines and one mine under construction. The company has a market cap of $3.49 billion. The Firm has a portfolio of other evaluation and exploration projects in various countries, including Mali, Colombia, Burkina Faso, Finland, Chile and Nicaragua. It currently has negative earnings.
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