Goldcorp Adjusted Earnings Disregarding Expectations Due to Production Gaps

Canadian miner Goldcorp Inc. posted lower adjusted quarterly earnings than expected on Wednesday, as gold production fell and foreign currency costs soared.

The company, fifth largest gold producer in the world a net loss of $ 131 million, or 15 cents per share, compared with a net profit of $ 135 million, or 16 cents per share, at during the corresponding period of the previous financial year.

Goldcorp lost $ 178 million in the quarter.

Excluding this item and other non-recurring items, the company earned 2 cents per share. According to this measure, badysts forecast a profit of 7 cents per share according to Thomson Reuters I / B / E / S.

The miner in Vancouver, which has operations in North and South America, declared producing 571 000 ounces of gold in the second quarter, it rose from 590,000 ounces in the first quarter and 635,000 ounces in the same quarter of the previous year

Goldcorp reiterated its production forecast of 2.5 million ounces in 2018, at a global cost of $ 800.

All-inclusive maintenance costs to produce an ounce of gold, a key reference in the industry, went from $ 800 to $ 850 the previous year.

The company said it had reached its target of $ 250 million. Managing Director David Garofalo is targeting a 20 percent growth in production and reserves by 2021, along with a 20 percent reduction in costs, which should help meet the new target of 39, here the end of next year.

Goldcorp executives predict A conference call to discuss quarterly results Thursday morning

Listed shares in New York City the company closed slightly Wednesday to close at $ 13.36. [ad_2]
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