Canadian gold producer Goldcorp Inc reported a quarterly profit on Wednesday, helped by lower costs.

The world’s fourth-biggest gold producer by market value reported net earnings of $135 million, or 16 cents per share, in the second quarter ended June 30.

The company posted a loss of $78 million, or 9 cents per share, a year earlier when production slumped due to a maintenance shutdown and slow restart at its biggest mine, Penasquito, in Mexico.

Goldcorp also said Chief Financial Officer Russell Ball would step down.

© Thomson Reuters 2017