Goldcorp reports lower profit, jump in production

Thu Jul 30, 2015 8:07am EDT
 
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TORONTO, July 30 (Reuters) - Goldcorp Inc, the world's most valuable gold miner, reported a lower net-adjusted profit on Thursday, as an ongoing slump in bullion prices squeezed earnings.

The Vancouver-based company reported adjusted earnings of $65 million, or 8 cents a share, for the quarter ended June 30, down from $164 million, or 20 cents a share, in the same period last year.

Gold production increased to 908,000 ounces from 648,700 ounces, a quarterly record driven by higher grades at Penasquito and the ongoing ramp-up at Cerro Negro. (Reporting by Susan Taylor; Editing by Chizu Nomiyama)