BUZZ-Goldcorp Inc: Loses some sheen on bigger-than-expected loss

Thu Jul 28, 2016 12:46pm EDT
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** Gold miner's shares down 5 pct at C$23.65, pulling down YTD gains to below 50 pct

** U.S.-listed shares of the third-biggest gold producer by market value also down nearly 5 pct at $17.94

** Company posts far bigger Q2 loss than expected as output drops by almost a third and costs increase

** Production drops mainly due to lower ore grades and a 10-day mill shutdown for maintenance at Penasquito

** Credit Suisse cuts PT on U.S. stock by $4 to $21, based on a 6 pct drop in NAV to due to Penasquito issues, lower grade estimate at Red Lake/Cochenour and lower throughput at Cerro Negro in 2017