Commodities Buzz: Goldcorp Reports 10% Drop In Q1 Gold Production

Mining major Goldcorp Inc reported that its output and profit fell during the first quarter, compared to the same period a year ago. Net earnings came in at $ 67 million, or 8 cents per share, compared to $ 170 million, or 20 cents, for the first quarter of 2017. However, the company said that operating cash flows rose to $ 271 million from $ 227 million, while adjusted operating cash flow climbed to $ 350 million from $ 315 million. Gold production fell to 590,000 ounces from 655,000 in the year-ago period, a drop of nearly 10%. Conversely, all-in sustaining costs rose slightly to $ 810 per ounce from $ 800 a year ago. However, the company maintained full-year guidance for gold production of 2.5 million ounces.