B2Gold (BTG) Stock Sinks on Lower Gold Prices

B2Gold (BTG) stock is down on Wednesday afternoon alongside gold prices due to a firmer dollar and a positive economic outlook.
By Kaya Yurieff ,

NEW YORK (TheStreet) -- Shares of B2Gold (BTG) - Get Report are falling 4.34% to $2.76 late Wednesday afternoon as gold prices dropped to a three-week low today.

For August delivery, gold is declining 0.89% to $1,320.40 per ounce on the COMEX this afternoon.

Gold prices are retreating due to a firmer dollar and an optimistic economic outlook, the Wall Street Journal reports.

The precious metal is more expensive to foreign currency holders when the greenback is stronger.

A positive economic view, including strong U.S. housing starts data, prompted speculation that the Federal Reserve could boost interest rates this year.

Gold is non-interest paying and struggles to compete with assets that offer a yield when interest rates are raised.

B2Gold is a Vancouver-based gold producer with about four operating mines.

Separately, TheStreet Ratings Team has a "Hold" rating with a score of C- on the stock.

The primary factors that have impacted the rating are mixed. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures and solid stock price performance.

But the team also finds that the company's return on equity has been disappointing.

Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

You can view the full analysis from the report here: BTG

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