08:33 AM EST, 02/28/2020 (MT Newswires) -- B2Gold (BTO.TO) was down 6.3% in premarket trading after the company late on Thursday said it returned to a fourth-quarter profit on on higher gold production.

The company said it earned US$182.41 million, or US$0.17, in the period, compared with a loss of US$49.68 million, or US$0.01, in the final quarter of 2018. Adjusted earnings were US$69 million, or US$0.07, topping the average analyst estimate for the measure of US$0.06 per share, according to Capital IQ.

B2Gold's production in the quarter rose 1.2% to 234,416 ounces, while full year output of 969,495 ounces topped the upper end of its guidance for the year. It expects to produce between 1.0 million and 1.055 ounces in 2020.

The company declared a US$0.01 per share dividend, payable on March 23 to shareholders of record on March 9.

B2Gold shares were down US$0.27 to US$4.00 in premarket New York trading. The shares closed at C$5.93 Thursday on the Toronto Stock Exchange.

Price: 5.93, Change: -0.22, Percent Change: -3.58