Nyrstar shares slide by a third after earnings warning, credit rating downgrade

Shares in Nyrstar NV, the world’s second-largest zinc smelting company, fell by more than 30% on Friday September 21 after the company flagged that “adverse market conditions” would hit its third-quarter earnings, prompting a credit downgrade from ratings agency Moody’s.

“The company is likely to record an underlying ebitda [earnings before interest, taxes, depreciation and amortization] result for [the second half of the year] which is materially below that achieved in [the first half of the year],” Nyrstar said in a statement after European markets closed on Thursday September 20.


Archie Hunter

September 21, 2018

12:59 GMT