Why Vermilion Energy Stock Is Slumping Today
Shares of Vermilion Energy (NYSE: VET) tumbled nearly 10% by 2:30 p.m. EDT on Thursday. Driving down the Canadian energy company's stock was its lackluster third-quarter report.
Vermilion Energy reported a net loss of 10.2 million Canadian dollars ($7.7 million), or CA$0.07 per share ($0.05 per share), for the third quarter. That fell well short of the CA$0.04-per-share ($0.03-per-share) profit that analysts anticipated. The main issue was that its production declined by 6% from the prior quarter due to several headwinds, including maintenance, unplanned downtime, and weather delays.
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Source Fool.com
