HudBay Minerals reports 2Q loss

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HudBay Minerals reports 2Q loss

posted on Jul 30, 2015 03:50PM

HudBay Minerals reports second-quarter loss of $44.9 million

TORONTO (AP) _ HudBay Minerals Inc. (HBM) on Wednesday reported a second-quarter loss of $44.9 million, after reporting a profit in the same period a year earlier.

The Toronto-based company said it had a loss of 20 cents per share. Losses, adjusted for non-recurring costs, were 7 cents per share.

The results fell short of Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 11 cents per share.

The mining company posted revenue of $151.1 million in the period.

HudBay Minerals shares have fallen 25 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $6.55, a fall of 39 percent in the last 12 months.

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