For June delivery, gold is up 0.5% to $1,234.70 per ounce on the COMEX this afternoon.
The price of the yellow metal is increasing today as investors discount the possibility of the Federal Reserve hiking interest rates in the next few months, the Wall Street Journal reports.
Non-interest paying gold has difficult competing with assets that offer a yield when interest rates are raised.
Gold prices are also getting a lift from the metal's appeal as an alternative asset, Reuters noted.
"People are reluctant to take profits on their gold positions because of all the insecurity the world is facing," George Gero, managing director at RBC Wealth Management, told the Journal.
Goldcorp is a Vancouver-based gold producer engaged in the acquisition, exploration, development and operation of gold properties in Canada, the U.S., Mexico and Central and South America.
Separately, TheStreet Ratings Team has a "Sell" rating with a score of D+ on the stock.
This is driven by a number of negative factors, which 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 covered.
The company's weaknesses can be seen in multiple areas, such as its disappointing return on equity, generally disappointing historical performance in the stock itself and feeble growth in its earnings per share.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospects 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 article's author.
You can view the full analysis from the report here: GG