Next week Goldcorp (NYSE: GG) will release its second-quarter earnings report. In anticipation of the release, here are five questions worth asking regarding the company's progress in the past quarter.

Will production reach management's goals?
Based on the company's 2014 guidance, it expects to produce 3.025 million ounces of gold during 2014. Considering its production quota in the first quarter, Goldcorp is likely to present production volume of 780,000 ounces of gold in the second quarter -- nearly 25% higher than the parallel quarter last year. The table below summarizes Goldcorp's key metrics in the second quarter of 2013 and 2014.

Source: Goldcorp

If the company doesn't meet these targets, this could suggest it may not reach its annual guidance or perhaps even reduce its yearly outlook again (back in the first quarter, the company lowered its initial annual production outlook by 1.6%). Conversely, it could also suggest the company's output will have to pick up in the coming quarters to reach its annual goals.

Has the cost of production dropped?
The company's progress in lowering its all-in sustaining costs will be another key factor. In the first quarter, Goldcorp's all-in sustaining costs stood at only $840 per ounce, which was 14% lower than in the same quarter of 2013. If the company maintains its annual guidance, then its production cost per ounce is expected to be higher than in the first quarter but lower than a year ago. 

Will profitability pick up?
During the first quarter, the rise in production quota and lower production costs didn't offset the adverse impact gold prices had on the company's profit margin or revenue -- they both fell compared to 2013.

Other gold producers such as Yamana Gold recorded similar declines in revenue and profitability even after Yamana Gold cut down its production costs and increased output. 

In the past second quarter, however, the average price of gold was only 9% lower than the parallel quarter of 2013. So we could see Goldcorp showing a modest gain in its profitability for the first time in the past several quarters. 

Has Goldcorp made progress in developing its projects?
In the last quarter of this year, Goldcorp estimates its Cerro Negro will start producing, which could further expand its production for the year. The company will also provide an update on its Penasquito mine, which was projected to resume construction during the middle of 2014 and to start producing by the middle of next year. If Goldcorp updates any progress in its developing projects, this could impact its annual production. 

Is there more room for growth?
In a recent Bloomberg article, it was reported that Goldcorp may be interested in mines in Ghana, which are currently owned by Newmont Mining. If this transaction actually comes to fruition, it will be the only asset Goldcorp holds outside of the Americas. Back in April, Barrick Gold and Newmont Mining tried to workout a merger agreement. But a deal was never reached.

If the talks between the two were to resume, they may also decide to divest additional non-core assets. This could be an opportunity for a company such as Goldcorp to expand its asset portfolio. In the past several months, the company has tried different ways to expand its portfolio including the attempted hostile takeover of Osisko Mining.  

Goldcorp is trying to expand its portfolio by acquiring additional assets while attempting to reach its goals in terms of production quota and cost reduction. The upcoming release of its earnings report could provide some answers to the progress Goldcorp had in the past quarter.