Q4 2016 Conference Call

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  • Met or exceeded all production and operating cost guidance for 2016
  • Increased production of all metals year-over-year, reflecting first full year of commercial production at Constancia and higher throughput levels at Lalor 
  • Achieved cost reduction initiatives in 2016 with consolidated cash cost of $0.93 per pound copper, and consolidated all-in sustaining cash cost of $1.52 per pound copper, lower than 2015 levels by 19% and 30%, respectively1
  • Operating cash flow per share of $0.52 in the fourth quarter of 2016 and $1.64 for the full year 20161
  • Net loss per share of $0.20 in the fourth quarter of 2016, due in part to the call premium and fees paid in connection with the senior unsecured notes refinancing 
  • Reduced net debt position by $136 million during 20161 and had total liquidity of $391 million as at December 31, 2016, an increase of $114 million during the fourth quarter of 2016
  • Successfully completed refinancing of senior unsecured notes, resulting in lower interest costs, extended maturities and more flexible financial covenants
  • On track to release new technical reports on Rosemont and Lalor during the first quarter of 2017


1 Cash cost and all-in sustaining cash cost, net of by-product credits, per pound of copper produced, operating cash flow per share, and net debt are not recognized under IFRS. For a detailed description of each of these non-IFRS financial performance measures, please see the discussion under “Non-IFRS Financial Performance Measures” on page 7 of the Q4 2016 news release.



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