Lowering Goldcorp's Fair Value as the Company Struggles Amid Planned Shutdowns; Shares Fairly Valued
Amid the 10-day planned maintenance shutdown at Penasquito and the exhaustion of surface stockpiles at Cerro Negro, gold production fell to 613,400 ounces at all-in sustaining costs, or AISC, of $1,067 per ounce during the second quarter. In comparison, Goldcorp produced 908,000 ounces at AISC of $853 per ounce in the prior-year quarter. However, this was expected given management's warnings of the planned mine maintenance.We expect production and costs to improve in the back half of the year a...
Goldcorp is a gold producer engaged in the operation, exploration, development and acquisition of precious metal properties in Canada, the United States, Mexico, and Central and South America. Co.'s metal properties consist of gold, silver, copper, lead and zinc.
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