UPDATE: Inmet Mining Corp Lower, But Well Above Day Low After Reporting Q3 Profit Up 10%

By Midnight Trader,  October 28, 2011, 09:39:13 AM EDT

Inmet Mining Corp. (IMN.TO) Thursday said net income attributable to shareholders in the third quarter quarter ended Sept. 30 was $101.2 million, or $1.46 a share, compared with the year-earlier profit of $91.7 million, or $1.64 a share on higher production, Reuters reported.

Inmet was slightly lower at 9.40am having touched a day low $55.52 in the early minutes of the day. It opened at $56.86 compared to a previous close of $56.92.

Earnings on a per share basis was lower in the quarter owing to a 24% rise in the number of outstanding shares from third quarter of 2010. Quarterly gross sales rose 16% to $261.8 million.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

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