Goldcorp (GG) Stock Lower as Gold Hits Six-Week Low

NEW YORK (TheStreet) -- Shares of Goldcorp Inc  (GG) are lower by 0.74% to $18.69 in later afternoon trading Friday, as hold prices trade in the red to hit a six week low level amid the strengthening dollar, according to Reuters.

The dollar is stronger following U.S. economic data that undermined longer-term expectations for an interest rate hike, Reuters added.

Spot gold was trading nearly flat at $1,174.71 an ounce as of 3:41 p.m. ET, after falling 1.2% to $1,170.20 an ounce earlier today to its lowest level since March 20.

Gold futures for June delivery was lower by 0.67% to $1,174.50 an ounce as of 3:31 p.m. ET.

Canada-based Goldcorp is a gold producer engaged in the operation, exploration, development and acquisition of precious metal properties in Canada, the U.S., Mexico and Central and South America.

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 generally disappointing historical performance in the stock itself."

You can view the full analysis from the report here: GG Ratings Report

GG ChartGG data by YCharts

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