HudBay Minerals: 3Q Earnings Snapshot
TORONTO (AP) _ HudBay Minerals Inc. (HBM) on Monday reported a third-quarter loss of $274.8 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Toronto-based company said it had a loss of $1.05. Losses, adjusted for asset impairment costs and pretax expenses, came to 8 cents per share.
The results did not meet Wall Street expectations. The average estimate of 15 analysts surveyed by Zacks Investment Research was for a loss of 6 cents per share.
The mining company posted revenue of $291.3 million in the period, which also fell short of Street forecasts. Fifteen analysts surveyed by Zacks expected $291.9 million.
In the final minutes of trading on Monday, the company’s shares hit $3.66. A year ago, they were trading at $4.96.