Swedish miner Boliden lags earnings forecasts in 2nd quarter
Boliden's quarterly operating profit fell to 1.09 billion Swedish crowns ($112.11 million) on a reported basis, from 4.81 billion a year earlier. That missed the average forecast of 1.48 billion crowns from analysts polled by LSEG.
The result was mainly hampered by the weaker U.S. dollar and stops for major planned maintenance at its smelters, the company said in the earnings statement.
Metals sold by Boliden are priced in U.S. dollars, which means that at times of weak dollar, the sales value of its products falls when converted back into Swedish crowns, Boliden's reporting currency.
($1 = 9.7228 Swedish crowns)
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