[ad_1]
Mining company Lundin Mining reports that sales were lower than expected during the first quarter. The company reports lower than expected adjusted earnings per share. The company lowers some production forecasts.
Sales fell 9.2 percent to $ 378 million (416.4). The result can be compared to the Factset analyst consensus at 489.
Profit after taxes was $ -113.6 million (60.9).
Earnings per share ended at $ -0.15 (0.07).
Adjusted earnings per share were $ -0.06 (0.09), which is worse than the analyst consensus of 0.00.
The cash flow from operating activities was $ 83.4 million (62.1).
Cash and cash equivalents amounted to $ 366.9 million (250.6).
The company adjusts various production forecasts for 2020.
Copper production is estimated to land in the range of 264,000 – 293,000 tons, against a previous estimate of 272,000 – 296,000 tons.
Zinc production is projected to be 142,000 – 152,000 tons, compared to 172,000 – 187,000 tons previously.
Gold production is projected to amount to 175,000 – 190,000 ounces, compared to previous 190,000 – 200,000 ounces.
Nickel production is repeated.
Capital investment is projected to amount to $ 440 million, down from the previous 620 million.
| Lundin Mining, MUSD | Q1-2020 | consensus | Shift towards consensus | Q1-2019 | change |
| Net sales | 378 | 489 | -22.7% | 416.4 | -9.2% |
| Net profit | -113.6 | 60.9 | |||
| Earnings per share, USD | -0.15 | 0.07 | |||
| Adjusted earnings per share | -0.06 | 0.00 | 0.09 | ||
| Cash flow from operating activities | 83.4 | 62.1 | 34.3% | ||
| Cash and cash equivalents | 366.9 | 250.6 | 46.4% |
[ad_2]
