NEW YORK (TheStreet) -- Shares of Goldcorp (GG) are surging, up 3.22% to $17.93 in midday trading Tuesday, as gold prices climb on a softer dollar, moving away from its three-week low in the previous session, CNBC reports.
Spot gold was last up 0.3% to $1,178.90 an ounce, after having fallen 2% yesterday, hitting its lowest level since Dec. 1 at $1,170.17 an ounce.
U.S. gold futures for February delivery is slightly down 0.12% to $1,178.40 an ounce as of 12:15 p.m. ET today.
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A weaker greenback makes dollar-denominated gold cheaper for holders of other currencies, CNBC added.
Separately, 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 unimpressive growth in net income, weak operating cash flow and feeble growth in its earnings per share."
Highlights from the analysis by TheStreet Ratings Team goes as follows: