Goldcorp Inc reported a quarterly loss of $1.1 billion on a slew of one-time charges, but better-than-expected production costs and a rising gold price pushed the miner's stock higher on Thursday.Vancouver, British Columbia-based Goldcorp said a number of tax and impairment charges hurt results, along with reclamation and closure costs at its inactive mine sites.The company is the latest of a string of gold miners to be stung by asset impairment charges due to the sharp year-on-year slide in price of gold. Goldcorp's rival's Barrick Gold and Agnico-Eagle Mines both saw their quarterly results hurt by similar charges this week.Goldcorp also followed in the steps of its peers and trimmed the size of its gold reserve base by 15 percent to account for the 28 percent slide in the price of gold in 2013. It said it had 54.4 million ounces of proven and probable gold reserves at the end of 2013, based on a $1,300 per ounce gold price.
Barrick Gold Corporation (Barrick) is engaged in the production and sale of gold, as well as related activities, such as exploration and mine development. Shares of ABX traded higher by 5.9% or $1.12/share to $20.09. In the past year, the shares have traded as low as $13.43 and as high as $33.36. On average, 15489900 shares of ABX exchange hands on a given day and today's volume is recorded at 21827934.
Barrick Gold Corporation (Barrick) is engaged in the production and sale of gold, as well as related activities, such as exploration and mine development. Shares of ABX traded higher by 6.1% or $1.27/share to $22.08. In the past year, the shares have traded as low as $14.22 and as high as $33.38. On average, 3591440 shares of ABX.TO exchange hands on a given day and today's volume is recorded at 4702987.
Goldcorp Inc. (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. Shares of G traded higher by 3.56% or $1.02/share to $29.64. In the past year, the shares have traded as low as $21.87 and as high as $35.20. On average, 2988630 shares of G.TO exchange hands on a given day and today's volume is recorded at 3582190.
Goldcorp Inc. (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. Shares of GG traded higher by 3.61% or $0.94/share to $26.98. In the past year, the shares have traded as low as $20.54 and as high as $35.19. On average, 8230630 shares of GG exchange hands on a given day and today's volume is recorded at 9793539.
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