Goldcorp reports third-quarter loss, writedown

Thu Oct 30, 2014 8:09am EDT
 
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TORONTO Oct 30 (Reuters) - Goldcorp Inc reported a third-quarter net loss on Thursday, as gold prices fell and it took a $36 million writedown on the value of low-grade stockpiles at its Penasquito mine in Mexico.

Goldcorp, the world's biggest gold producer by market value, reported a net loss of $44 million, or 5 cents a share, in the quarter ending Sept. 30, compared to net earnings of $5 million, or 1 cent per share, in the same period a year ago.

Adjusted earnings declined to $70 million, or 9 cents a share, from $190 million, or 23 cents a share. (Reporting by Susan Taylor Editing by W Simon)