New Pacific Metals Shares Fall on Wider-than-Expected Loss
Dow Jones
Sep 05
Shares of New Pacific Metals were lower after the company's loss in the most recent quarter came in wider than analyst expectations.
Shares were down 4.5% to $6.40 on Friday. The stock is up 82% this year.
The Canadian exploration and development company on Thursday reported a net loss of $990,000, or 1 cent a share, for the three months ended June 30. That compares with a loss of $890,000, or 1 cent a share, for the same period a year earlier.
Analysts polled by FactSet were expecting the company to break even on a per-share basis.
Operating expenses during the quarter rose to $1.59 million from $1.42 million a year prior.
The company reported a balance of $120.7 million in capitalized exploration expenditures across its three projects as of June 30.
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