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Rosemont Mine Truth: Unexpected loss sends Hudbay stock to six-year low

August 4, 2015 By santaritas Leave a Comment

Hudbay Minerals stock was pummeled Thursday to its lowest level in six years following the company’s announcement of an unexpected $55.2 million second-quarter loss, according to its 2nd Quarter Financial Statement.

Wall Street analysts were projecting Hudbay, the owner of the proposed Rosemont Mine, would post a $.14/share profit for the quarter ending June 30, but instead, the company finished with a ($.24/share) loss.

On Thursday, Hudbay’s stock lost 7.94% percent on the New York Stock Exchange, falling 52 points to close at $6.03 in heavy trading at 230,000 shares. The stock traded as low as $5.82 before recovering in late trading.

Click Here to Read Full Article

Filed Under: News, Rosemont Tagged With: Finances, Hudbay

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RSS Latest from Rosemont Mine Truth

  • Pima County reaffirms resolution opposing Rosemont Mine April 19, 2019
  • Hudbay approves $122 million spending plan for “early works” at Rosemont March 29, 2019
  • Hudbay seeking Rosemont Mine joint venture partner after receiving key federal Clean Water Act permit March 15, 2019
  • Hudbay has failed to provide legal justification for Clean Water Act permit, Natural Resources Committee chairman says March 5, 2019

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Litigation Update

Speaking of which (the appeal originally filed in Nov. 2017 challenging the Forest Service’s approval of the mine), we now have a schedule for that case in the 9th Circuit Court of Appeals – not definitive, but at least a general time frame:

 

After a lot of negotiating, the lawyers have come to an agreement on the final schedule of our cases before the 9th Circuit Appeals Court. Here is the updated schedule:

  • Feds opening brief due by 1 June 2020
  • Hudbay opening brief due by 15 June 2020
  • Then, our response by 3 September 2020
  • Feds optional reply brief by 2 November 2020
  • Hudbay optional reply brief by 9 November 2020

Click here for more updates

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