NEW YORK (TheStreet) -- Shares of Goldcorp (GG)  are down 0.27% to $18.55 in pre-market trading today despite an upgrade at Jefferies today to "hold" from "underperform" and a raised price target to $19 from $16.

"Goldcorp has an impressive growth history and its Cerro Negro and Eleonore projects should provide a source of substantial production growth in the next few years," Jefferies said.

The Vancouver-based gold producer is a "well run company with good assets, a strong balance sheet and one of the best production growth profiles in the gold industry," analysts added.

In the case of gold, higher interest rates and a stronger dollar should limit the upside to the price over the medium term and potentially lead to a lower price even though global gold mine supply is likely to trend lower after this year, Jefferies noted.

Analysts expect the gold price to gradually drift higher, and their long-term price forecast is $1,300 per ounce. Further upside to the gold price beyond what they are forecasting should depend on either a weaker dollar or an acceleration of demand in China and/or India.

Separately, TheStreet Ratings team rates GOLDCORP INC as a Sell with a ratings score of D+. TheStreet Ratings Team has this to say about their recommendation:

"We rate GOLDCORP INC (GG) a SELL. This is driven by some concerns, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its unimpressive growth in net income, weak operating cash flow and generally disappointing historical performance in the stock itself."

Highlights from the analysis by TheStreet Ratings Team goes as follows:

• The company, on the basis of change in net income from the same quarter one year ago, has significantly underperformed when compared to that of the S&P 500 and the Metals & Mining industry. The net income has significantly decreased by 120.0% when compared to the same quarter one year ago, falling from -$1,089.00 million to -$2,396.00 million.
• The share price of GOLDCORP INC has not done very well: it is down 24.77% and has underperformed the S&P 500, in part reflecting the company's sharply declining earnings per share when compared to the year-earlier quarter. The fact that the stock is now selling for less than others in its industry in relation to its current earnings is not reason enough to justify a buy rating at this time.
• Net operating cash flow has decreased to $274.00 million or 10.74% when compared to the same quarter last year. Despite a decrease in cash flow GOLDCORP INC is still fairing well by exceeding its industry average cash flow growth rate of -57.49%.
• The return on equity has improved slightly when compared to the same quarter one year prior. This can be construed as a modest strength in the organization. Compared to other companies in the Metals & Mining industry and the overall market, GOLDCORP INC's return on equity significantly trails that of both the industry average and the S&P 500.
• GG, with its decline in revenue, underperformed when compared the industry average of 2.8%. Since the same quarter one year prior, revenues fell by 13.9%. Weakness in the company's revenue seems to have hurt the bottom line, decreasing earnings per share.
• You can view the full analysis from the report here: GG Ratings Report