NEW YORK (TheStreet) -- Shares of Goldcorp (GG) are up by 2.85% to $19.46 in late morning trading on Wednesday, as some mining stocks rise along with the price of gold, which has moved above the $1,200 per ounce mark and into a second session of gains.
The yellow metal is gaining off of a weak dollar and disappointing U.S. employment data, Reuters reports.
Gold is for June delivery is up by 1.83% to $1,214.20 per ounce on the COMEX this morning. The dollar is down by 0.92%, according to the Wall Street Journal dollar index.
"The dollar's weakening has been instrumental to the latest move higher and of course the view that the Fed is less likely to raise interest rates next month after weak economic data," ActivTrades chief analyst Carlo Alberto de Casa told Reuters.
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."