Shares of Goldcorp (NYSE:GG) Sees Large Outflow of Money

Goldcorp (NYSE:GG) : Money flow in the Goldcorp (NYSE:GG) stock was negative (1.76 million) on Wednesday, which shows that the investors used the strength in the stock price to reduce their holdings. The total traded value on upticks was $1.64 million, compared to $3.4 million on downticks. The total uptick to downtick ratio was 0.48, indicating the underlying weakness in the stock. Even in block trades, money flow was negative ($1.46 million), indicating selling on the strength. Downtick transaction value in block trades amounted to $1.46 million, indicating persistent selling. Goldcorp (NYSE:GG) traded $0.4 higher at $18.75 gaining 2.18% over the previous days close.


Institutional Investors own 59.19% of Goldcorp shares.

The company shares have rallied 15.55% 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 $17.77 and the 200 Day Moving Average price is recorded at $15.40. Goldcorp (NYSE:GG): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $18.62 and $18.55 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $18.94. The buying momentum continued till the end and the stock did not give up its gains. It closed at $18.79, notching a gain of 2.40% for the day. The total traded volume was 7,096,199 . The stock had closed at $18.35 on the previous day.

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.

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