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Record gold output, but Hudbay posts loss in Q1

May 12, 2021

Source: https://www.mining.com/record-gold-output-but-hudbay-posts-loss-in-q1/

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Operations at Constancia copper mine. (Image courtesy of Hudbay Minerals.)

Hudbay Minerals (TSX: HBM; NYSE: HBM) released its first quarter results today with record gold production of 35,500 oz. during that time. Consolidated copper production was 24,553 tonnes at a ‘sustaining cash cost’ of $2.16 per lb.

Despite strong metal prices, revenue fell to $313.6 million for the period, compared to $322,3 million for the last quarter of 2020, and $245.1 million in the year earlier quarter. The company recorded a net loss of $60.1 million or $0.23 per share.

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Operations at Constancia copper mine. (Image courtesy of Hudbay Minerals.)

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