Goldcorp Stock Falls On Unusually High Volume (GG)

Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model.

NEW YORK ( TheStreet) -- Goldcorp (NYSE: GG) is trading at unusually high volume Wednesday with 12.7 million shares changing hands. It is currently at two times its average daily volume and trading down 59 cents (-2.1%) at $27.19 as of 3:50 p.m. ET.

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Goldcorp has a market cap of $22.48 billion and is part of the basic materials sector and metals & mining industry. Shares are down 24.3% year to date as of the close of trading on Tuesday.

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. The company has a P/E ratio of 14.2, below the S&P 500 P/E ratio of 17.7.

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. You can view the full Goldcorp Ratings Report.

See all heavy volume stocks in our stocks moving on unusual volume list or get investment ideas from our investment research center.

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