Is Goldcorp Inc.’s Fuel Running High? The Stock Just Gapped Up

 Is Goldcorp Inc.'s Fuel Running High? The Stock Just Gapped Up

The stock of Goldcorp Inc. (TSE:G) gapped up by $0.03 today and has $18.89 target or 6.00% above today’s $17.82 share price. The 8 months technical chart setup indicates low risk for the $15.20 billion company. The gap was reported on Nov, 25 by Barchart.com. If the $18.89 price target is reached, the company will be worth $912.00M 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 675,455 shares traded hands. Goldcorp Inc. (TSE:G) has declined 22.22% since April 21, 2016 and is downtrending. It has underperformed by 27.63% 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 16 analyst reports since July 31, 2015 according to StockzIntelligence Inc. The firm has “Underperform” rating given on Tuesday, October 25 by RBC Capital Markets. The rating was maintained by RBC Capital Markets on Thursday, February 25 with “Sector Perform”. RBC Capital Markets maintained Goldcorp Inc. (TSE:G) rating on Thursday, February 4. RBC Capital Markets has “Sector Perform” rating and $19.50 price target. The firm earned “Buy” rating on Wednesday, December 16 by Sidoti. The stock of Goldcorp Inc. (TSE:G) earned “Hold” rating by TD Securities on Friday, July 22. On Monday, October 26 the stock rating was maintained by RBC Capital Markets with “Sector Perform”. The firm has “Buy” rating by Mackie given on Tuesday, August 4. The firm has “Buy” rating by Canaccord Genuity given on Monday, October 24. Barrington Research maintained the stock with “Outperform” rating in Thursday, September 3 report. The stock of Goldcorp Inc. (TSE:G) earned “Overweight” rating by JP Morgan on Thursday, February 4.

Another recent and important Goldcorp Inc. (TSE:G) news was published by Cbc.ca which published an article titled: “Goldcorp lays off 27 workers in Red Lake, Ont.” on November 23, 2016.

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 $15.20 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).

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