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UPDATE 1-Goldcorp swings back to profit as output rises, costs fall

Published 2016-04-27, 06:09 p/m
© Reuters. UPDATE 1-Goldcorp swings back to profit as output rises, costs fall
GG
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(Adds production details, consensus forecast)
April 27 (Reuters) - Goldcorp Inc G.TO returned to a
profit in the first-quarter on the back of higher production and
lower costs, the Canadian gold producer said on Wednesday.
Goldcorp, the world's third-biggest gold producer by market
value, reported net earnings of $80 million, or 10 cents a
share, in the three months to end-March. That compared with a
net loss of $87 million, or 11 cents per share, a year earlier.
Analysts on average had expected the company to earn 4 cents
a share, according to Thomson Reuters I/B/E/S.
Goldcorp left unchanged the 2016 production and cost
forecast made in February.
Production at Goldcorp, which has operations in Canada, the
United States and Mexico, increased to 783,700 ounces in the
first quarter compared to 724,800 ounces a year earlier.
All-in sustaining costs to produce an ounce of gold fell to
$836 from $885.


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