Is Major Move Coming For Goldcorp Inc. After This Gap Up?

 Is Major Move Coming For Goldcorp Inc. After This Gap Up?

The stock of Goldcorp Inc. (TSE:G) gapped up by $0.07 today and has $31.48 target or 57.00% above today’s $20.05 share price. The 5 months technical chart setup indicates low risk for the $17.46B company. The gap was reported on Oct, 19 by Barchart.com. If the $31.48 price target is reached, the company will be worth $9.95B more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. About 1.67 million shares traded hands. Goldcorp Inc. (TSE:G) has declined 7.23% since March 14, 2016 and is downtrending. It has underperformed by 12.78% the S&P500.

Goldcorp Inc. (TSE:G) Ratings Coverage

Out of 7 analysts covering Goldcorp Inc. (TSE:G), 5 rate it a “Buy”, 1 “Sell”, while 1 “Hold”. This means 71% are positive. Goldcorp Inc. has been the topic of 13 analyst reports since July 31, 2015 according to StockzIntelligence Inc. The firm has “Buy” rating given on Tuesday, August 4 by Mackie. RBC Capital Markets maintained the shares of G in a report on Monday, October 26 with “Sector Perform” rating. The firm has “Sector Perform” rating given on Thursday, February 4 by RBC Capital Markets. The stock of Goldcorp Inc. (TSE:G) has “Buy” rating given on Wednesday, December 16 by Sidoti. As per Thursday, February 4, the company rating was initiated by JP Morgan. TD Securities maintained Goldcorp Inc. (TSE:G) rating on Friday, July 22. TD Securities has “Hold” rating and $23 price target. As per Thursday, February 25, the company rating was maintained by RBC Capital Markets. The stock of Goldcorp Inc. (TSE:G) has “Outperform” rating given on Thursday, September 3 by Barrington Research.

More recent Goldcorp Inc. (TSE:G) news were published by: Fool.ca which released: “Should Goldcorp Inc. Be on Your Buy List?” on October 19, 2016. Also Forbes.com published the news titled: “Goldcorp Stock Getting Very Oversold” on October 04, 2016. Fool.ca‘s news article titled: “Why Now Is the Time to Buy Goldcorp Inc.” with publication date: October 13, 2016 was also an interesting one.

Goldcorp Inc. 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. The company has a market cap of $17.46 billion. The Firm is engaged in the sale of gold, silver, lead, zinc and copper. It currently has negative earnings. The Company’s divisions include Red Lake Gold Mines Ontario Partnership , Goldcorp Canada Ltd./Goldcorp Inc. (Porcupine), Musselwhite, Les Mines Opinaca Ltee (Eleonore), Minera Penasquito S.A. de C.V. and Camino Rojo S.A. de C.V. (Penasquito), Desarrollos Mineros San Luis S.A. de C.V. (Los Filos), Montana Exploradora de Guatemala S.A. (Marlin), Oroplata S.A. (Cerro Negro), Corredor SpA (Project Corridor), Minera Alumbrera Limited (Alumbrera), El Morro and Pueblo Viejo Dominicana Corporation (Pueblo Viejo).

G.TO Company Profile

Goldcorp Inc., incorporated on December 1, 2006, 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. The Firm is engaged in the sale of gold, silver, lead, zinc and copper. The Company’s principal producing mining properties consist of the Red Lake, Porcupine, Musselwhite and Eleonore gold mines in Canada; the Penasquito gold/silver/lead/zinc mine and the Los Filos gold mine in Mexico; the Marlin gold/silver mine in Guatemala; the Cerro Negro gold/silver mine and the Alumbrera gold/copper mine in Argentina, and the Pueblo Viejo gold/silver/copper mine in the Dominican Republic. The Company’s divisions include Red Lake Gold Mines Ontario Partnership (Red Lake), Goldcorp Canada Ltd./Goldcorp Inc. (Porcupine), Musselwhite, Les Mines Opinaca Ltee (Eleonore), Minera Penasquito S.A. de C.V. and Camino Rojo S.A. de C.V. (Penasquito), Desarrollos Mineros San Luis S.A. de C.V. (Los Filos), Montana Exploradora de Guatemala S.A. (Marlin), Oroplata S.A. (Cerro Negro), Corredor SpA (Project Corridor), Minera Alumbrera Limited (Alumbrera), El Morro and Pueblo Viejo Dominicana Corporation (Pueblo Viejo).

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Tags: , ,

Related posts

Leave a Comment