*Q4 basic EPS C$0.10
*Q4 rev falls to C$178.8 mln from C$242.6 mln
NEW YORK, March 4 (Reuters) - HudBay Minerals (HBM.TO) posted a sharp drop in its fourth quarter results, as plunging copper and zinc prices hurt revenue, the company said on Wednesday.
HudBay, which recently saw a bid for Lundin Mining (LUN.TO) collapse due to opposition from its own shareholders, earned C$15.8 million ($12.39 million), or 10 cents a share, in the quarter ended Dec. 31.
That compared with a profit of C$28.4 million, or 22 a cents a share, in the year-ago period.
The company said its latest earnings were significantly impacted by sharply lower copper and zinc prices, offset in part by a foreign exchange gain in the fourth quarter.
Revenue fell to C$178.78 million from C$242.6 million as copper and zinc prices dropped.
HudBay launched a friendly takeover bid for Lundin last November but ran into resistance from its owns shareholders over concerns about Lundin’s shakier balance sheet and a massive share issue that would have been used to fund the transaction.
HudBay dropped the offer last month after the Ontario Securities Commission ruled it would have to hold a vote to approve the share issue. (C$1=$0.7839 US Dollar) (Reporting by Cameron French in Toronto and Sinead Carew in New York; Editing by Phil Berlowitz)