3 Stocks Pulling The Basic Materials Sector Downward
2. As of noon trading, Goldcorp ( GG) is down $0.64 (-2.2%) to $28.19 on average volume Thus far, 4.8 million shares of Goldcorp exchanged hands as compared to its average daily volume of 6.8 million shares. The stock has ranged in price between $28.02-$28.70 after having opened the day at $28.70 as compared to the previous trading day's close of $28.83. Goldcorp Inc. engages in the acquisition, development, exploration, and operation of precious metal properties in Canada, the United States, Mexico, and Central and South America. It primarily explores for gold ores, as well as for silver, copper, lead, and zinc ores. Goldcorp has a market cap of $24.3 billion and is part of the metals & mining industry. The company has a P/E ratio of 15.3, below the S&P 500 P/E ratio of 17.7. Shares are down 21.4% year to date as of the close of trading on Monday. TheStreet Ratings rates Goldcorp as a hold. The company's strengths can be seen in multiple areas, such as its increase in net income, largely solid financial position with reasonable debt levels by most measures and good cash flow from operations. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself and disappointing return on equity. Get the full Goldcorp Ratings Report now. Exclusive Offer: Jim Cramer's 'go-to' small/mid-cap guru Bryan Ashenberg only buys stocks he thinks could return 50-100%. See his top picks for 14-days FREE.
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