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Goldcorp posts bigger quarterly loss on $3.9 bln charge

Published 2016-02-25, 05:28 p/m
© Reuters. Goldcorp posts bigger quarterly loss on $3.9 bln charge
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Feb 25 (Reuters) - Goldcorp Inc G.TO , the world's biggest
gold producer by market value, reported a bigger quarterly loss
due to a $3.9 billion charge and cut its annual dividend.
The company's net loss widened to $4.27 billion, or $5.14
per share, in the fourth quarter ended Dec. 31, from $2.4
billion, or $2.94 per share, a year earlier.
The year-earlier quarter included an impairment charge of
$2.3 billion for the Cerro Negro mine in Argentina.
Adjusted loss more than doubled to $128 million, or 15 cents
per share, from $55 million, or 7 cents per share.
The Vancouver-based miner said gold production increased to
909,400 ounces in the quarter from 890,900 a year earlier.

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