UPDATE 1-Breakwater Q3 results beat est on high metal prices

* EPS C$0.28 vs est C$0.17

* Gross rev up 30 percent to C$93.3 mln

Nov 1 (BestGrowthStock) – Canadian miner Breakwater Resources Ltd’s
(BWR.TO: ) quarterly profit beat estimates, helped by higher
metal prices.

The Toronto-based mining company posted third-quarter
earnings of C$19.6 million, or 28 Canadian cents a share,
compared to C$6.5 million, or 10 Canadian cents, last year.

Gross revenue for the company, which has three mines in
Chile, Honduras and Canada, rose 30 percent to C$93.3 million.

A 20 percent rise in the price of zinc — which contributes
about 35 percent of the company’s sales — and a 41 percent
rise in copper prices helped results.

Analysts on average were expecting the company to earn 17
Canadian cents a share, on revenue of C$87.8 million, according
to Thomson Reuters I/B/E/S.

On Oct. 5, strikers halted operations at Breakwater’s zinc
mine, Toqui, in Chile “indefinitely,” after wage talks broke
off, but the parties reached a settlement in a week.

The company’s shares, which have gained about 5 percent
since the it reached a settlement with its workers, closed at
C$5.96 on Monday on the Toronto Stock Exchange.
(Reporting by Aftab Ahmed and Arnika Thakur in Bangalore;
Editing by Don Sebastian)
([email protected]; within U.S. +1 646 223 8780;
outside U.S. +91 80 4135 5800; Reuters Messaging:
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UPDATE 1-Breakwater Q3 results beat est on high metal prices