Goldcorp CEO Reveals Biggest Challenge to Bottom Line

Gold prices hit three-week highs on Thursday, but the miner Goldcorp isn't faring all that well.

Goldcorp reported a drop in second quarter profits and earlier this month the company lowered its 2012 production outlook.

Looking at the numbers a little more closely, Goldcorp's profit dropped to $268 million, or 26 cents a share, in the quarter ended June 30, from $489 million, or 52 cents, a year earlier.

Removing one-time items, profit dropped to $332 million, or 41 cents a share, from $413 million, or 52 cents.

Analysts, on average, had expected earnings of 42 cents a share, according to Thomson Reuters I/B/E/S.

And revenue fell to $1.1 billion in the second quarter from $1.3 billion on lower gold output and sales.

What’s going on?

Find out from Goldcorp CEO Chuck Jinesse. Watch the video now!

Goldcorp CEO on Lower Profits
Goldcorp CEO on Lower Profits   





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