The stock of B2Gold Corp. (TSE:BTO) gapped down by $0.02 today and has $2.95 target or 6.00% below today’s $3.14 share price. The 7 months technical chart setup indicates high risk for the $3.06B company. The gap down was reported on Nov, 23 by Barchart.com. If the $2.95 price target is reached, the company will be worth $183.60M 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 3.01M shares traded hands. B2Gold Corp. (TSE:BTO) has risen 34.68% since April 19, 2016 and is uptrending. It has outperformed by 29.35% 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 27.71% above today’s ($3.14) 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 Wednesday, October 19 by B2Gold Corp.. The stock of B2Gold Corp. (TSE:BTO) has “Buy” rating given on Tuesday, September 20 by Dundee Securities. RBC Capital Markets maintained B2Gold Corp. (TSE:BTO) rating on Monday, August 24. RBC Capital Markets has “Outperform” rating and $2.50 price target. The stock of B2Gold Corp. (TSE:BTO) earned “Outperform” rating by Scotia Capital on Friday, November 4. On Friday, November 4 the stock rating was maintained by TD Securities with “Buy”. The firm earned “Overweight” rating on Thursday, February 4 by JP Morgan. As per Friday, October 14, the company rating was maintained by Scotia Capital. Scotia Capital maintained B2Gold Corp. (TSE:BTO) rating on Friday, October 21. Scotia Capital has “Outperform” rating and $4.75 price target. The company was reinitiated on Thursday, February 4 by Dundee Securities.
Another recent and important B2Gold Corp. (TSE:BTO) news was published by Reuters.com which published an article titled: “BRIEF-B2Gold Corp qtrly adjusted earnings per share $0.05” on November 03, 2016.
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 $3.06 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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