Why Hudbay Minerals Stock Is Soaring Today
Shares of Hudbay Minerals (NYSE: HBM) had surged more than 10% by 10:45 a.m. EDT on Wednesday. Driving up the mining stock was its stronger-than-expected second-quarter results.
Hudbay Minerals reported an adjusted loss of $0.15 per share, a $0.05 per share improvement from what analysts expected. Several factors drove the narrower loss, including strong production and cost performance at its operations in Manitoba, and rising production of all other metals elsewhere, including record gold output. That strong gold production came at an ideal time as prices soared during the period.
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Source Fool.com
