TSX: G $ 20.75 +0.01 +0.05% Volume: 3,421,190 August 26, 2016
NYSE: GG $ 15.95 -0.11 -0.69% Volume: 13,808,762 August 26, 2016
GOLD: US $ 1,317.20 -4.50 -0.34% Volume: August 26, 2016

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Investor-Resources

Investor Kit

Thumb Date Download
April 1, 2015 2015 Annual Report 696 KB
October 13, 2014 2014 Sustainability Report
April 3, 2014 IR Factsheet 2.58 MB
April 2, 2013 2015 Annual Information Form 1.43 MB
October 17, 2011 Corporate Presentation 1.82 MB

Building our future.

With a strong balance sheet, an exceptional high-quality asset portfolio and a dedicated management team, we are building a future of sustained prosperity for our shareholders.

Financial Highlights: 2015

Gold production

Gold production(1) totaled 909,400 ounces for the fourth quarter and 3,464,400 ounces for 2015, compared to 890,900 ounces and 2,871,200 ounces, respectively, in 2014.

Total cash costs

All-in sustaining cash costs(1),(2) for the fourth quarter were $977 per ounce, and $894 per ounce for 2015, compared to $1,035 per ounce and $949 per ounce, respectively, in 2014.  On a by-product basis cash costs(1),(3) for the fourth quarter were $687 per ounce and $605 per ounce for 2015, compared to $589 per ounce and $542 per ounce, respectively, in 2014.

Shareholder earnings

For the full year 2015, the Company recorded a net loss of $4.2 billion, or $5.03 per share.  During the fourth quarter of 2015, the Company recorded a net loss of $4.3 billion, or $5.14 per share. During the fourth quarter of 2015, the Company recorded an impairment charge of $3.9 billion, net of tax, or $4.69 per share, and losses on foreign exchange translation of tax assets and liabilities and other of $247 million, or $0.30 per share. In addition, the Company recorded a reduction in the carrying value of the Los Filos heap leach inventory and Peñasquito low-grade stockpile of $104 million, net of tax, or $0.12 per share, and an equity loss from Alumbrera of $37 million, or $0.04 per share.  The impairment calculations included a long-term gold price assumption of $1,100 per ounce. 

Operating cash flows

Adjusted operating cash flows(1),(4) totaled $339 million or $0.41 per share, for the fourth quarter and $1.44 billion or $1.73 per share for 2015, compared to $337 million or $0.41 per share and $1.39 billion or $1.71 per share, respectively, in 2014.  

Dividends

Dividends paid in 2015 totaled $370 million, compared to dividends paid of $488 million in 2014.

Financial
(US$ millions except per share data)
2015A 2014A 2013A
Adjusted revenues(1)
5,124 4,519 4,657
Adjusted earnings (loss)(1),(5)
(88) 498 634
Adjusted operating cash flow
1,437 1,393 1,601
 
     
Financial Position
Cash & cash equivalents and money market investments
383 535 625
Total assets
21,428 27,866 29,564
Debt
2,688
3,592 2,507
Capital expenditures
1,300
2,200 2,400
Total equity
12,848 17,175 19,758
 
     
Operating Statistical Data
Gold produced (ounces)
3,464,400 2,871,200 2,666,600
Gold sold (ounces)
3,591,200 2,672,800 2,597,200
All-in sustaining cost ($/oz)
894 949 1,031
Realized gold price ($/oz)
1,153 1,264 1,385
 
     
Per Share Data
Adjusted earnings per share (loss) (basic)(1),(5)
(0.11) 0.61 0.78
Adjusted cash flow per share (basic)(1),(4)
1.73
1.71 1.97
 
     
Shareholder Data (Millions)
Basic shares outstanding
830 813 812
Fully diluted shares
830 813 812
 
     
Share Trading Data
NYSE (US$ per share)
     
High
25.00 29.65 38.61
Low 
10.87 17.01 20.54
Close (Dec. 31)
11.56 18.52 21.67
 
     
TSE (C$ per share)
High 
30.95 32.46 38.33
Low 
15.05 19.18 21.87
Close (Dec. 31)
15.99 21.51 23.04

(1) The Company has included non-GAAP performance measures on an attributable basis (Goldcorp share) above.  Attributable performance measures include the Company’s mining operations and projects and the Company’s share from Alumbrera and Pueblo Viejo. The Company believes that disclosing certain performance measures on an attributable basis is a more accurate measurement of the Company’s operating and economic performance and reflects the Company’s view of its core mining operations. The Company believes that, in addition to conventional measures prepared in accordance with GAAP, the Company and certain investors use this information to evaluate the Company’s performance and ability to generate cash flow. However these performance measures do not have any standardized meaning. Accordingly, it is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with GAAP. The amounts disclosed also include the results of the Company’s discontinued operation Wharf. Refer to note 10 of the 2015 Financial Statements a reconciliation of adjusted revenues to reported revenues.

(2) All-in sustaining cost is a non-GAAP performance measure that the Company believes more fully defines the total costs associated with producing gold. All-in sustaining costs include by-product cash costs, sustaining capital expenditures, corporate administrative expense, exploration and evaluation costs and reclamation cost accretion and amortization. As the measure seeks to reflect the full cost of gold production from current operations, new project capital is not included in the calculation. Accordingly, it is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with GAAP. The Company reports this measure on a sales basis. Refer to page 46 of the 2015 Annual MD&A for a reconciliation of all-in sustaining costs.

(3) The Company has included non-GAAP performance measures - total cash costs by-product, per gold ounce, throughout this document. The Company reports total cash costs on a sales basis. In the gold mining industry, this is a common performance measure but does not have any standardized meaning. The Company follows the recommendations of the Gold Institute Production Cost Standard. The production cost standard developed by the Gold Institute remains the generally accepted standard of reporting cash costs of production by gold mining companies. In addition to conventional measures prepared in accordance with GAAP, the Company assesses this measure in a manner that isolates the impacts of gold production volumes, the by-product credits, and operating costs fluctuations such that the non-controllable and controllable variability is independently addressed. The Company uses total cash costs, by product, per gold ounce, to monitor its operating performance internally, including operating cash costs, as well as in its assessment of potential development projects and acquisition targets. The Company believes these measures provide investors and analysts with useful information about the Company’s underlying cash costs of operations and the impact of by-product credits on the Company’s cost structure and is a relevant metric used to understand the Company’s operating profitability and ability to generate cash flow. When deriving the production costs associated with an ounce of gold, the Company includes by-product credits as the Company considers that the cost to produce the gold is reduced as a result of the by-product sales incidental to the gold production process, thereby allowing the Company’s management and other stakeholders to assess the net costs of gold production.The Company believes that, in addition to conventional measures prepared in accordance with GAAP, the Company and certain investors use this information to evaluate the Company’s performance and ability to generate cash flow. Accordingly, it is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with GAAP. Total cash costs on a by-product basis are calculated by deducting Goldcorp’s share of by-product silver, copper, lead and zinc sales revenues from Goldcorp’s share of production costs.

Refer to page 44 of the 2015 Annual MD&A for a reconciliation of total cash costs to reported production costs

(4) Adjusted operating cash flows and adjusted operating cash flows per share are non-GAAP performance measures which comprises Goldcorp’s share of operating cash flows before working capital changes and which the Company believes provides additional information about the Company’s ability to generate cash flows from its mining operations. Accordingly, it is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with GAAP. Refer to page 50 of the 2015 Annual MD&A for a reconciliation of adjusted operating cash flows to reported net cash provided by operating activities.

 (5) Adjusted net earnings (loss) and adjusted net earnings (loss) per share are non-GAAP performance measures.  The Company believes that, in addition to conventional measures prepared in accordance with GAAP, the Company and certain investors use this information to evaluate the Company's performance.  Accordingly, it is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with GAAP. Refer to page 48 of the 2015 Annual MD&A for a reconciliation of adjusted net earnings (loss) to reported net earnings (loss) attributable to shareholders of Goldcorp.




TSX: G $ 20.75 +0.01 +0.05% Volume: 3,421,190 August 26, 2016
NYSE: GG $ 15.95 -0.11 -0.69% Volume: 13,808,762 August 26, 2016
GOLD: US $ 1,317.20 -4.50 -0.34% Volume: August 26, 2016