Goldcorp (NYSE:GG) has tumbled 1% during the past week, however, the bigger picture is still very bullish; the stocks have advanced and posted positive gains of 2.94% in the last four weeks. In the past week, the company has outperformed the S&P 500 by 0.19% and the outperformance has advanced to 2% for the last 4 weeks period.
Goldcorp (NYSE:GG): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $18.10 and $17.56 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $18.14. The buying momentum continued till the end and the stock did not give up its gains. It closed at $17.88, notching a gain of 1.30% for the day. The total traded volume was 21,405,893 . The stock had closed at $17.65 on the previous day.
The company shares have rallied 10.17% from its 1 Year high price. On May 2, 2016, the shares registered one year high at $20.24 and the one year low was seen on Jan 21, 2016. The 50-Day Moving Average price is $17.98 and the 200 Day Moving Average price is recorded at $15.06.
Many analysts have stated their opinion on the company shares. In a research note released to the investors, Goldman Sachs downgrades its rating on Goldcorp (NYSE:GG).The analysts at the brokerage house have a current rating of Neutral on the shares. Earlier, the shares were rated a Buy by the brokerage firm. In a recent information released to the investors, Goldman Sachs raises the new price target from $15.3 per share to $16 per share. The rating by the firm was issued on May 11, 2016. Institutional Investors own 59.58% of Goldcorp shares.
Goldcorp Inc. (Goldcorp) is a gold producer engaged in the acquisition, exploration, development and operation of gold properties in Canada, the United States, Mexico and Central and South America. The Companys principal products are gold and the byproduct silver, copper, lead and zinc. Goldcorps operating assets include four mines in Canada, two mines in Mexico, and four in Central and South America.