B2Gold, Corp. (NYSE:BTG) Accumulates Strength Before the Earnings Release

[[tagnumber 0]] [[tagnumber 1]] [[tagnumber 2]]B2Gold, Corp. (NYSE:BTG) is announcing first quarter earnings this Friday, however, the share price already broke out of the trading range yesterday. The report could support a short–term momentum for BTG which lost a lot of value in the past months on declining gold prices and heavy losses on its goodwill and other long–lived assets.[[tagnumber 1]] [[tagnumber 2]][[tagnumber 5]][[tagnumber 1]] [[tagnumber 2]]Yesterday, BTG got trading volume of around 1.5 million traded shares which equals the average for the stock, yet the share price broke the upper Bollinger band and closed outside of the trading channel at $1.65 per share. That represents a 3.77% gain from the previous close. On BTG chart, there are some strong bullish signals that suggest the stock could break even higher up on the expectation of the earnings report on Friday.[[tagnumber 1]] [[tagnumber 2]] [[tagnumber 1]] [[tagnumber 2]]In its last press release from the middle of April, BTG provided an update to its gold production for this year‘s first quarter. According to the statement, consolidated output is 20% greater than the same period of last year, reaching sales of $138.9 million. Also, the company claims it expects to reach its guidance for the entire year with its New Otjikoto Mine in Namibia already having commercial production and another project in Mali being underway.[[tagnumber 1]] [[tagnumber 2]] [[tagnumber 1]] [[tagnumber 2]]BTG last yearly earning repor[[tagnumber 16]]t showed, however, that the company is by far not in the best condition. For 2014, it shows a net loss which resulted not only from the need to write off goodwill completely and report additional huge impairment losses on other long–lived assets that affected the operating profit.[[tagnumber 1]] [[tagnumber 2]] [[tagnumber 1]] [[tagnumber 2]]It is also evident that gross profits was cut down by over 30% and the operating cash flow dropped down as well.[[tagnumber 1]] [[tagnumber 0]] [[tagnumber 1]]