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Stocks News Update: PennantPark Investment Corp (PNNT), B2Gold Corp (BTG), Ashford Hospitality Trust Inc (AHT)

U.S. stocks were lower after the close on Monday, as losses in the Healthcare, Consumer Goods and Consumer Services sectors led shares lower.

At the close in NYSE, the Dow Jones Industrial Average fell 0.43%, while the S&P 500 index declined 0.46%, and the NASDAQ Composite index fell 0.37%.

“The concerns are warranted” regarding consumer spending this holiday season, said Michael Farr, president of Farr Miller & Washington. “The American consumer is resilient,” he said, but consumers don’t have a lot more money to spend.

Early signs of spending showed brick-and-mortar stores faced difficulties, with a National Retail Federation survey on Sunday showing more people shopped online than in stores during the Thanksgiving weekend.

The CBOE Volatility Index, which measures the implied volatility of S&P 500 options, was up 6.35% to 16.08.

Gold for February delivery was up 0.72% or 7.60 to $1063.80 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in January fell 0.04% or 0.01 to hit $41.70 a barrel, while the January Brent oil contract fell 0.67% or 0.30 to trade at $44.56 a barrel.

EUR/USD was down 0.25% to 1.0566, while USD/JPY rose 0.23% to 123.08.

The US Dollar Index was up 0.21% at 100.26.

PennantPark Investment Corp. (NASDAQ:PNNT) rose 2.83% or +0.20 points on Monday and made its way into the gainers of the day. After trading began at $7.10 the stock was seen hitting $7.27 as a peak level and $7.05 as the lowest level. The stock ended up at $7.26. The daily volume was measured at 1.16 million shares. The company has a market cap of $515.14 million. The mean estimate for the short term price target for PennantPark Investment Corp stands at $8.40 according to 10 Analysts. The higher price target estimate for the stock has been calculated at $10.00 while the lower price target estimate is at $7.00. PennantPark Investment Corp. (NASDAQ:PNNT) on November 10, 2015 announced financial results for the fourth quarter and fiscal year ended September 30, 2015.

PORTFOLIO AND INVESTMENT ACTIVITY

As of September 30, 2015, our portfolio totaled $1,299.0 million and consisted of $399.2 million of senior secured debt, $612.5 million of second lien secured debt, $182.5 million of subordinated debt and $104.8 million of preferred and common equity. Our debt portfolio consisted of 71% variable-rate investments (including 65% with a London Interbank Offered Rate, or LIBOR, or prime floor) and 29% fixed-rate investments. As of September 30, 2015, we had four companies on non-accrual, representing 9.4% and 5.5% of our overall portfolio on a cost and fair value basis, respectively. Our overall portfolio consisted of 61 companies with an average investment size of $21.3 million, had a weighted average yield on debt investments of 12.1% and was invested 31% in senior secured debt, 47% in second lien secured debt, 14% in subordinated debt and 8% in preferred and common equity.

Where PNNT is Headed Exactly? Find out in This Trend Analysis Reports

B2Gold Corp (NYSEMKT:BTG) witnessed a rise in the market cap on Monday as its shares jumped 2.80% or +0.03 points. After the session commenced at $1.06, the stock reached the higher end at $1.10 while it hit a low of $1.06. With the volume soaring to 2.02 million shares, the last trade was called at $1.10. The company has a 52-week high of $2.38. The company has a market cap of $991.52 million and there are 925.08 million shares in outstanding. The 52-week low of the share price is $0.98. B2Gold Corp has dropped -7.56% during the last 3-month period. Year-to-Date the stock performance stands at -32.1%. The stock price is expected to reach $1.90 in the short term. The number of analysts agreeing with this consensus is 6. The higher estimate for the short term price target is at $2.26 while the lower estimate is at $1.40. On Jan 21, 2015, the shares registered one year high at $2.38 and the one year low was seen on Aug 5, 2015. The 50-Day Moving Average price is $1.13 and the 200 Day Moving Average price is recorded at $1.30. B2Gold Corp (NYSEMKT:BTG) on November 25, 2015 report that the official ground-breaking of the Fekola Project took place at its Fekola site yesterday.

The event was officiated by Robert Diarra, Chief of Staff of the Ministry of Mines, and well attended by national and regional government representatives as well as community leaders.

Initial construction activities at Fekola began in February 2015 led by core team members of the Otjikoto construction team. Early works construction activities that were completed included:

  • Construction of a new site access road (40 km from the tar road to site) complete with a bridge across a major waterway to allow for year round access;
  • Construction of an on-site airstrip designed to allow personnel to fly directly in and out of the site (materially complete but waiting for final regulatory approvals);
  • Construction of the camp pad and commencement of clearing within the mill footprint;
  • Crushing of aggregate to produce sand and gravel to be used in the concrete batch plant;
  • Construction of the concrete batch plant; and
  • Development of the on-site geotechnical laboratory to be used for compaction and concrete testing.

Can BTG Show a Strong Recovery? Find out in This Research Report

Ashford Hospitality Trust, Inc. (NYSE:AHT) traded up 2.78% during trading on Monday, hitting $7.03. The stock had a trading volume of 1.61 million shares. The firm has a 50 day moving average of $6.01 and a 200-day moving average of $6.79. The stock has a market cap of $653.04 million and a price-to-earnings ratio of 3.55. Ashford Hospitality Trust Inc has dropped -7.52% during the last 3-month period. Year-to-Date the stock performance stands at -29.83%. The stock price is expected to reach $8.55 in the short term. The number of analysts agreeing with this consensus is 11. The higher estimate for the short term price target is at $12.00 while the lower estimate is at $6.00. On Jan 28, 2015, the shares registered one year high at $11.05 and the one year low was seen on Sep 30, 2015. Ashford Hospitality Trust, Inc. (NYSE:AHT) On November 4, 2015, Ashford (AINC) reported the following results and performance measures for the third quarter ended September 30, 2015.  On November 12, 2014, the Company completed its spin-off from Ashford Hospitality Trust, Inc. (AHT) (“Trust”), but the Company has presented its prior year financial statements in accordance with GAAP, which requires that historical carve-out financial statements be presented.  Accordingly, the Company’s results for the prior year period may not be representative of results in future periods.  Also, for the third quarter, the Company has consolidated the financial position and operating results of the private investment funds managed by Ashford Investment Management.  The financial impact from this consolidation is adjusted out of the Company’s financials through the noncontrolling interests in consolidated entities line items on the Company’s income statement and balance sheet.  Unless otherwise stated, all reported results compare the third quarter ended September 30, 2015, with the third quarter ended September 30, 2014.

OVERVIEW

  • Fee based, low cap-ex business model.
  • Diversified platform of multiple fee generators.
  • Leader in asset and investment management for the real estate & hospitality sectors.

Is AHT a Solid Investment at These Levels? Read This Report For Details