UPDATE: First Quantum Minerals Up 1.5% As Q4 Beats Forecasts, Declares Dividend
First Quantum Minerals Ltd. (FM.TO) reported Q4 2012 net earnings attributable to shareholders were $186.7 million, or 39 cents per share, which is higher than $76 million, or 16 cents per share, in Q4 2011 due to higher copper and gold average realized prices, higher sales volumes, lower copper production cash costs and the contribution of Ravensthorpe and Kevitsa. Revenue soared 37% to $774.6 million.
Analysts on average had expected earnings of 33 cents per share on revenue of $830.4 million, according to Thomson Reuters I/B/E/S.
It approved a final dividend of C$0.1147 per share in respect of the financial year ended December 31, 2012.