Goldcorp (GG) Misses Q3 EPS by 11c

Goldcorp (NYSE: GG) reported Q3 EPS of ($0.12), $0.11 worse than the analyst estimate of ($0.01).

"Steady project execution in the third quarter during a transition period at our flagship Peñasquito mine continued a process of de-risking our 20/20/20 production growth and cost reduction plans. The commissioning of the PLP at Peñasquito, ongoing development of the Materials Handling system at Musselwhite and the near completion of the ramp up at both Cerro Negro and Éléonore are expected to lead to significantly improved gold production and costs in the fourth quarter of 2018", said David Garofalo, President and Chief Executive Officer of Goldcorp. "At the same time, with our renewed focus on exploration, we essentially replaced gold reserve depletion across our operating assets, establishing a strong foundation to achieve our gold reserve target of 60 million ounces by 2021."

For earnings history and earnings-related data on Goldcorp (GG) click here.

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