How Will Goldcorp (GG) Stock React To Its Second Quarter Earnings Results?

NEW YORK (TheStreet) -- Goldcorp (GG) reported second quarter earnings that beat analysts' estimates after costs fell more than expected, according to Bloomberg.

The gold producer's net income was $181 million, or 22 cents per share, compared with a year earlier net loss of $1.93 billion, or $2.38, the company said.

Profit excluding one-time items was 20 cents, beating the 14 cent average of 21 estimates compiled by Bloomberg.

While sales were up 5.6% to $906 million, they fell below the $1.02 billion average estimate.

Shares of Goldcorp closed down at $27.40.

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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 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 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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