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Wednesday, February 14, 2018

-=Goldcorp (GG) reported earnings on Wed 14 Feb 2018 (a/h)

Goldcorp beats by $0.17 
  • Reports Q4 (Dec) earnings of $0.28 per share, $0.17 better than the Capital IQ Consensus of $0.11.
  • Gold production of 646,000 ounces at all-in sustaining costs of $870 per ounce, compared to 761,000 ounces at AISC of $747 per ounce for the fourth quarter of 2016. Gold production in 2017 exceeded the midpoint of the Company's gold production guidance of 2.5 million ounces, while AISC of $824 per ounce for 2017 was in line with the Company's improved midpoint guidance of $825(2) per ounce, reflecting the progress the Company has made on its sustainable efficiency program.
Goldcorp guides FY18 production; 20/20/20 plan remains unchanged
Goldcorp expects to produce 2.5 million ounces (+/- 5%) of gold in 2018 vs. 2.57 mln in 2017, in line with previous 2018 guidance. AISC are expected to decline further to ~$800 per ounce (+/- 5%) as the Company continues to realize savings from its program targeting $250 million of annual sustainable efficiencies.
The Company's 20/20/20 plan remains unchanged. As previously guided, gold production is expected to increase 20% to 3 million ounces by 2021. AISC are expected to decrease by 20% to approximately $700 per ounce over the same period driven by the ongoing focus on cost efficiencies and productivity improvements. Building on the successful conversion of 4.7 million ounces of gold mineral resources into mineral reserves at the Century project in 2017, gold mineral reserves are expected to increase by 20% to 60 million ounces by 2021 supported by the exploration potential and ongoing programs at Coffee, Norte Abierto, Cerro Negro and Pueblo Viejo.

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