Why Goldcorp (GG) Stock Is Up Today

NEW YORK (TheStreet) --Goldcorp (GG) was gaining 1.1% to $23.87 Monday after announcing that it will no longer try to acquire Canadian gold miner Osisko (OSKFF).

In a statement Goldcorp said it will not raise its bid for Osisko, and will let the offer expire on April 22. "We stated from the beginning of this process that we would remain disciplined with respect to our offer to acquire Osisko, and our decision not to amend the offer is consistent with that commitment," the statement read.

Competitors Yamana Gold (AUY) and Agnico Eagle Mines (AEM) recently announced a C$3.9 billion joint bid for Osisko.

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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 several 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 feeble growth in its earnings per share, deteriorating net income, disappointing return on equity, weak operating cash flow and generally disappointing historical performance in the stock itself."

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