10 Firms Defy Market’s Bullish Momentum

5. B2Gold Corp. (NYSEAMERICAN:BTG)

B2Gold Corp (BTG) dropped its share prices on Wednesday by 2.79 percent to finish at $2.44 apiece after analysts downgraded their rating for the company.

On Tuesday, B2Gold (BTG) earned a downgraded outlook from BMO Capital Markets, slashing its price target for the company to $7 from $8.5 apiece, after its production report for the fourth quarter of the year stood at only 186,000 ounces of gold, falling short of the 204,600 ounces estimated.

For the full year, B2Gold (BTG)’s production reached 804,800 ounces, hitting the lower spectrum of its revised annual guidance, which ranged from 800,000 to 870,000 ounces.

Banking firm Canadian Imperial Bank of Commerce (CIBC) also issued a pessimistic outlook for B2Gold (BTG), cutting its price forecast to $3.3 from $3.7 previously and providing it a “neutral” rating.