First Quantum posts net earnings of $113M in Q3, notes broad cost inflation and recessionary concerns

  • 📰 KitcoNewsNOW
  • ⏱ Reading Time:
  • 41 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 20%
  • Publisher: 78%

United States News News

United States United States Latest News,United States United States Headlines

copper gold First Quantum posts net earnings of $113M in Q3, notes broad cost inflation and recessionary concerns

Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here!

In Q3 2022, the company also produced 67,417 ounces of gold, down from the 74,959 ounces in Q2 2022 and 5,849 tonnes of nickel, up from the 4,853 tonnes in Q2 2022 . The company’s copper cash cost averaged $1.82 per lb in Q3 2022, up from $1.74 per lb in Q2 2022 as a result of broad cost inflation that was partially mitigated by an improvement in production volumes. Copper AISC cost averaged $2.34 per lb in Q3 2022, down from $2.37 per lb in Q2 2022.

First Quantum also noted that its financial results for the third quarter include net earnings attributable to shareholders of the company of $113 million and adjusted earnings of $96 million , a decrease from Q2 2022 which had net earnings attributable to shareholders of the company of $419 million and adjusted earnings of $337 million .

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 13. in US

United States United States Latest News, United States United States Headlines