NEW YORK (TheStreet) -- Goldcorp (GG) shares are up 1.45% to $21.67 in trading on Friday, reversing the declines the company experienced in trading yesterday after it reported a wider-than-expected fourth quarter net loss before yesterday's opening bell.
The company's net loss widened to $2.4 billion, or $2.94 per share, from last year's net loss of $1.09 billion, or $1.34 per share last year. Excluding its one-time $2.3 billion write down the company posted an EPS of 7 cents per share that fell short of analysts' expectations for the period by five cents.
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While the stock gained in trading earlier today on increasing spot gold prices, breaking news that the EU has reached a deal with Greece for a four month extension on its debt package has sent gold falling once again in trading today.
COMEX gold prices are down 0.7% to $1,199.10 per ounce, while spot gold prices are down 0.58% to $1,199.81 in trading today.
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 multiple weaknesses, 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 feeble growth in its earnings per share."
Highlights from the analysis by TheStreet Ratings Team goes as follows:
- You can view the full analysis from the report here: GG Ratings Report