The firm initiated coverage on six of the senior gold miners based in North America and began Goldcorp with an "outperform" as it believes the company offers the newest portfolio of low cost mines.
BMO feels its initiation "is supported by long-term company fundamentals that will provide investor exposure to reasonable valuations predicated on a portfolio with the capacity to rebuild the company's balance sheet over the next couple of years."
Shares of Goldcorp are down by 1.38% to $16.43 in early afternoon trading on Tuesday. Some gold mining stocks are lower as gold prices slip on the start of the two-day Fed policy meeting, MarketWatch reports.
Gold is declining by 0.52% to $1,179.60 per ounce on the COMEX this afternoon.
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 a number of negative factors, 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."
Highlights from the analysis by TheStreet Ratings Team goes as follows: