Thompson Creek posts 4th-qtr profit

Mon Feb 27, 2012 5:52pm EST
 
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(Reuters) - Molybdenum miner Thompson Creek Metals TCM.TO posted a fourth-quarter profit, helped by a non-cash unrealized gain on common stock purchase warrants.

For October-December, the company earned $800,000, or breakeven per share, compared with a loss of $45 million, or 28 cents a share, a year ago.

On an adjusted basis, the company broke even for this quarter, compared with a profit of $34.4 million, or 20 cents a share, a year ago.

Revenue for the company, which owns the Thompson Creek mine in Idaho and the Endako mine in British Columbia, fell more than a quarter to $116.7 million.

Shares of the company closed down about 2 percent at C$8.66 on Monday on the Toronto Stock Exchange.

(Reporting by Shounak Dasgupta in Bangalore; Editing by Don Sebastian)