NEW YORK (TheStreet) -- Goldcorp (GG)  shares are rallying 1.77% to $10.92 on Wednesday afternoon, supported by higher gold prices following the FederalReserve's decision to leave rates unchanged. 

At 2 p.m. Eastern today, the central bank released its statement, noting that it's "closely monitoring" the global economy and financial developments and that it will assess the balance of risks in the future, CNBC.com reports. 

"One of the reasons for not hiking, I think, is that they didn't want to continue to increase the strength of the dollar, which would reverberate back into the United States," said Bill Gross, manager of the Janus Global Unconstrained Bond Fund.

The U.S. dollar weakened, trading 0.4% lower against a basket of foreign currencies.

Gold for February delivery is gaining 0.22% to $1,122.70 per ounce on the COMEX this afternoon.

Separately, TheStreet Ratings currently has a Sell rating on the stock with a letter grade of D. 

TheStreet Recommends

The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, disappointing return on equity and generally disappointing historical performance in the stock itself.

Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

You can view the full analysis from the report here: GG

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