Centerra Gold swings to loss in 2nd quarter vs profit a year ago

Tue Jul 29, 2014 5:39pm EDT
 
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July 29 (Reuters) - Centerra Gold Inc swung to a loss in the second quarter, results showed on Tuesday, on the back of a lower gold price, higher share-based compensation and a charge for inventory at its Kumtor mine in Kyrgyzstan.

The Toronto-based gold company reported a net loss of $31.7 million, or 13 cents a share, in the three months to the end of June. That compared with earnings of $1.6 million, or 1 cent, a year earlier. (Reporting by Nicole Mordant in Vancouver; Editing by David Gregorio)