Miner Goldcorp reports third-quarter profit, production falls

Wed Oct 26, 2016 6:06pm EDT
 
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(Reuters) - Canadian gold producer Goldcorp Inc (G.TO: Quote) reported a quarterly profit on Wednesday compared to a loss a year ago but production fell due to lower gold grades, throughput and recoveries at its flagship Penasquito mine in Mexico.

Goldcorp, the world's third-biggest gold producer by market value, reported net earnings of $59 million, or 7 cents a share, in the three months to end-September. That compared with a loss of $192 million, or 23 cents per share, a year earlier.

(Reporting by Nicole Mordant in Vancouver; Editing by James Dalgleish)

 
President and Chief Executive Officer of Goldcorp., Chuck Jeannes' shadow is seen on the wall while he delivers a speech at the annual general meeting held at the Pan Pacific Convention centre in Vancouver, British Columbia May 18, 2011. REUTERS/Ben Nelms/File Photo