Northgate Minerals (TSE:NGX) first quarter earnings came in at estimates, generating earnings of $4.9 million, or 2 cents a share. Adjusted quarterly earnings stood a 3 cents a share, in line with what analysts had been looking for.
Revenue for the quarter increased to $125.3 million, slightly up from the $123.8 million last year in the same quarter.
Profits last year were higher at $21.4 million, or 8 cents a share.
Gold and copper production dropped significantly in the first quarter, with gold production plunging by 32 percent to 73,362 ounces, and copper production falling by 37 percent, or 9.5 million pounds.
Guidance for production for the full year was given at 310,000 ounces of gold at a cash cost of $553 an ounce.
The company was helped by stronger gold and copper prices during the quarter.
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