NEW YORK (TheStreet) -- Shares of B2Gold Corp. (BTG) are up by 1.78% to $1.72 on heavy volume in mid-afternoon trading on Thursday, as some mining and related stocks get a jolt from the continuing rise in gold prices.
The yellow metal is extending Wednesday's gains, rising to a nearly three-month high earlier in the day, due to weak economic data and a decline in the dollar.
Gold for June delivery is up by 0.30% to $1,221.80 per ounce on the COMEX this afternoon. The dollar is slipping by 0.11%, according to the Wall Street Journal dollar index.
Economic data showed that retail sales in April hardly moved, a sign that consumers weren't spending, the Journal said, adding that the retail results sparked hope that the Fed will not be raising interest rates until further into the second half of the year.
Additionally, B2Gold is scheduled to report its 2015 first quarter earnings results before the market open tomorrow morning. Analysts are expecting the Canada-based gold producer to post break even earnings on revenue of $130.21 million for the period.
Separately, TheStreet Ratings team rates B2GOLD CORP as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
"We rate B2GOLD CORP (BTG) a SELL. This is driven by a few notable weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its feeble growth in its earnings per share, deteriorating net income, disappointing return on equity and generally disappointing historical performance in the stock itself."