Analysts at Dundee Securities upgraded shares of B2Gold Corp (NYSE: BTG) from Neutral to Buy today. With a rating of Buy on the stock, B2Gold Corp has a 52-week high of $3.65. A number of other analysts have issued reports on the stock recently, and the company has secured a consensus one-year price target of $2.00, less than the opening price of $2.81, a difference of 6.99 percent. Stock prices sometimes get a spike to the upside when analysts upgrade a stock.
U.S. stocks closed higher Tuesday as investors anticipate the results of meetings from the Federal Reserve and the Bank of Japan.
The Dow Jones Industrial Average DJIA, +0.05% rose 9.79 points, or less than 0.1%, to close at 18,129.96.
The S&P 500 index SPX, +0.03% advanced 0.64 points to finish at 2,139.76, led by gains in the health-care and consumer-staples sectors.
The Nasdaq Composite index COMP, +0.12% gained 6.33 points, or 0.1%, to close at 5,241.35.
Yesterday B2Gold Corp (NYSE: BTG) shares last traded at $2.86, which is an increase of $0.08 over the previous closing price. Opening at $2.81, they ranged from $2.77 and $2.88 throughout the day.
B2Gold Corp (NYSE: BTG) currently has a market cap of 2.69B.
4,232,091 shares traded hands yesterday, 30 percent below the norm, out of a total float 915,032,000. Trading volume is likely to increase in the next few days as investors often use swings in trading volume to identify substantial volume aggregation or dissemination by institutional investors.
While an increase in trading for short periods will not mean much, conversely, a trend of heavy trading volume on the buy side over a series of days or weeks delivers a positive indicator to market traders that institutions may be moving in, so institutional sponsorship is very important.
Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These professional investors retain substantial teams of analysts that investigate thousands of stocks. So watching their interests is a good way to ensure you are buying the right stocks.
By marking the activity of these professional investors—and the moving averages they influence—it allows for traders to make more impactful decisions on trades.
With that in mind, B2Gold Corp (NYSE: BTG) now has a 50-day MA of $3.04 and 200-day MA of $2.35. It has traded in a 52-week range between $0.60 – 3.65 and today’s last price is 0.22% lower than the 52 week high of $3.65.
Earnings growth is an important factor to research when buying stocks and investors identify companies that have grown their earnings at least 25% or more over 3 consecutive years.
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