Hudbay’s cash grows 42% in fourth quarter
Hudbay Minerals (TSE:HBM) rang in the fourth quarter with a $34.3 million profit or 21 cents per share, compared to $7.9 million or seven cents a share at the end of 2010.
Cash was up sharply.
“Operating cash flow before changes in non-cash working capital increased 42% to $52.2 million, or $0.30 per share, in the fourth quarter of 2011 from $36.7 million, or $0.25 per share, in the fourth quarter of 2010 mainly as a result of higher revenue from increased sales volumes as excess copper concentrate inventories were sold, partly offset by lower copper and zinc prices,” said the company in a statement.
Hudbay closed the trading day up 2.57% at $11.19.
Hudbay is a Canadian mining company with copper/zinc/precious metals mines in northern Manitoba and Saskatchewan. It also has additional projects in the U.S. and South America.