TORONTO (AP) — TORONTO (AP) — HudBay Minerals Inc. (HBM) on Tuesday reported first-quarter profit of $22.4 million.
On a per-share basis, the Toronto-based company said it had profit of 5 cents. Earnings, adjusted for non-recurring costs, came to 16 cents per share.
The results surpassed Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of 3 cents per share.
The mining company posted revenue of $525 million in the period, also surpassing Street forecasts. Twelve analysts surveyed by Zacks expected $463.7 million.
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