TD Securities Upgrades Goldcorp to Buy

By Ryan Adsit

Goldcorp (NYSE: GG) received a Buy rating and a $22 price target from TD Securities analyst Greg Barnes on January 17. The company’s shares closed yesterday at $14.39.

According to TipRanks.com, Barnes is a 4-star analyst with an average return of 8.1% and a 60.4% success rate. Barnes covers the Basic Materials sector, focusing on stocks such as Wheaton Precious Metals Corp, Newmont Mining Corporation, and Teck Resources Limited.

Currently, the analyst consensus on Goldcorp is Moderate Buy and the average price target is $17.92, representing a 24.5% upside.

In a report issued on January 15, Credit Suisse also upgraded the stock to Buy with a $19 price target.

The company has a one-year high of $17.87 and a one-year low of $11.64. Currently, Goldcorp has an average volume of 7.43M.

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Goldcorp, Inc. engages in exploration of gold and other minerals. The company operates through the following segments: Red Lake, Porcupine, and Peñasquito. It also has interests in the Cochenour and Borden projects in Canada and the Camino Rojo project in Mexico. The company was founded by Robert Ross McEwen in 1986 and is headquartered in Vancouver, Canada.