Goldcorp +3% as Q4 net profit more than doubles

Goldcorp (NYSE:GG) +3.2% after-hours as Q4 earnings more than double from a year ago and easily beats analyst expectations, and its program to implement $250M of sustainable annual efficiencies by mid-2018 is on track with nearly $200M achieved in 2017 across the company"s portfolio.

GG says Q4 gold production of 646K oz. fell 15% Y/Y but full-year gold output of 2.57M oz. edged past the midpoint of company guidance of 2.5M oz.; Q4 all-in sustaining costs of $870/oz. exceeded AISC of $747/oz. for the year-ago quarter while full-year AISC of $824/oz. was in line with improved midpoint guidance of $825/oz., which the company says reflects progress in its sustainable efficiency program.

GG expects to produce 2.5M oz. of gold in 2018, in line with previous guidance, with AISC seen declining further to ~$800/oz.; over the longer term, the company forecasts gold production to rise 20% to 3M oz. by 2021 with AISC declining 20% to ~$700/oz.over the same period.

Nguồn: seekingalpha.com