NEW YORK (TheStreet) -- Shares of Goldcorp Inc. (GG) are lower by 1.08% to $18.39 in early afternoon trading on Wednesday, as gold mining stocks decline today along with the price of the precious metal.
Gold for February delivery is falling by 1.02% to $1,188.20 per ounce on the COMEX this afternoon.
Yesterday the price of gold soared thanks in part to a weaker dollar. Today the dollar is on the rise, and was up by 0.48% on the Wall Street Journal dollar index at last check.
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On Tuesday, an analyst speaking with CNBC.com predicted that the jump in gold prices was only temporary, and said gold will likely hit new lows in the new year.
"I think it's going lower," an analyst from Oppenheimer Asset Management told CNBC.com. "I think a lot of these commodities that are priced in dollars are going to be pressured here. It's going to keep going lower, and I would expect new lows in 2015. I think there's a risk you could see $1,000."
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."