Goldcorp posts bigger quarterly loss on $3.9 bln charge

Thu Feb 25, 2016 5:28pm EST
 
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Feb 25 (Reuters) - Goldcorp Inc, 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. (Reporting by Narottam Medhora in Bengaluru)