12:28 PM EST, 11/12/2018 (MT Newswires) -- Dynacor Gold Mines (DNG.TO) was down 7.1% after earlier touching a 52-week low as the company on Monday said its third-quarter profit fell 42% on lower production and weaker pricing.

The company, which operates in Peru, said it earned US$0.7 million, or US$0.02 per share, compared with a profit of US$1.24 million, or US$0.03, in the third quarter of 2017. Revenue dropped 8.8% to US$24.44 million. The company said US$1 milion of that drop was the result of weaker gold prices.

Dynacor said its gold production fell to 19,982 ounces, down from 20,521 ounces as it processed less-rich ores.

The company said it expects to produce a total of 82,000 ounces in 2018, 2.6% more than in 2017.

Dynacor shares were last seen down $0.11 to $1.43, after earlier touching $1.41, the lowest since September, 2015

Price: 1.42, Change: -0.12, Percent Change: -7.79