The stock of B2Gold Corp. (TSE:BTO) gapped down by $0.07 today and has $3.42 target or 6.00% below today’s $3.64 share price. The 5 months technical chart setup indicates high risk for the $3.32B company. The gap down was reported on Nov, 7 by Barchart.com. If the $3.42 price target is reached, the company will be worth $199.20M less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. About 3.56M shares traded hands. B2Gold Corp. (TSE:BTO) has risen 77.06% since April 1, 2016 and is uptrending. It has outperformed by 75.11% the S&P500.
B2Gold Corp. (TSE:BTO) Ratings Coverage
Out of 7 analysts covering B2gold Corp. (TSE:BTO), 7 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. $25 is the highest target while $1.80 is the lowest. The $4.01 average target is 10.16% above today’s ($3.64) stock price. B2gold Corp. has been the topic of 19 analyst reports since August 18, 2015 according to StockzIntelligence Inc. The company was maintained on Friday, November 4 by TD Securities. Dundee Securities upgraded the shares of BTO in a report on Tuesday, September 20 to “Buy” rating. The firm has “Buy” rating given on Thursday, February 4 by Dundee Securities. The firm has “Outperform” rating given on Friday, October 21 by Scotia Capital. B2Gold Corp. maintained B2Gold Corp. (TSE:BTO) rating on Wednesday, October 19. B2Gold Corp. has “Outperform” rating and $4.75 price target. The stock of B2Gold Corp. (TSE:BTO) has “Outperform” rating given on Friday, November 4 by Scotia Capital. The firm earned “Outperform” rating on Monday, August 24 by RBC Capital Markets. Scotia Capital maintained the shares of BTO in a report on Friday, October 14 with “Outperform” rating. As per Thursday, February 4, the company rating was initiated by JP Morgan.
More news for B2Gold Corp. (TSE:BTO) were recently published by: Reuters.com, which released: “BRIEF-B2Gold Corp qtrly adjusted earnings per share $0.05” on November 03, 2016. Marketwired.com‘s article titled: “B2Gold Corp.: Third Quarter and Year-to-Date 2016 Results – Conference Call” and published on October 28, 2016 is yet another important article.
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 $3.32 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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