B2Gold Corp. experienced an 8.92% decline in after-hours trading following the release of its fourth-quarter and full-year 2025 financial results. The company reported record annual revenue of $3.06 billion and sold 927,797 ounces of gold during the period, marking strong operational performance for the fiscal year.
The negative market reaction stems from the company's 2026 production outlook, which projects a notable contraction compared to 2025 levels. B2Gold guided for gold production between 820,000 and 970,000 ounces in 2026, representing a decline from the prior year's output. Additionally, the company forecasts all-in sustaining costs (AISC) to increase significantly to $2,400-$2,580 per ounce, substantially higher than current operational levels.
The combination of anticipated lower production volumes and elevated cost structure appears to have weighed on investor sentiment, with market participants reassessing the company's near-term earnings trajectory and operational efficiency amid the guidance revisions.