Shares of Goldcorp Inc. (NYSE: GG) saw unusually high trading volume on Tuesday. Approximately 13,034,900 shares changed hands during mid-day trading, an increase of 147.98% from the previous session. The stock last traded at $40.59.
On a related note, analysts at Barclays Capital (NYSE: BCS) raised their price target on shares of Goldcorp Inc. from $30.00 to $36.00 in a research note to investors on Friday, January 7th. They now have an underweight rating on the stock.
Goldcorp Inc. (Goldcorp) is a gold producer engaged in the operating, exploration, development and acquisition of precious metal properties in Canada, the United States, Mexico and Central and South America. The Companys producing mining properties are comprised of the Red Lake, Porcupine and Musselwhite gold mines in Canada; the San Dimas gold/silver and Los Filos and El Sauzal gold mines in Mexico; the Marlin gold/silver mine in Guatemala; the Alumbrera gold/copper mine in Argentina; and the Marigold and Wharf gold mines in the United States. Its development projects include the Penasquito gold/silver/zinc/lead and Noche Buena gold/silver projects in Mexico; the Cochenour, Eleonore and Hollinger gold projects in Canada; the Cerro Blanco gold/silver project in Guatemala; and the Pueblo Viejo gold project in the Dominican Republic. On February 24, 2010, Goldcorp sold 21.2% interest in the Morelos gold project in Mexico. On February 16, 2010, Goldcorp acquired the New Gold subsidiary.
Goldcorp Inc. (NYSE: GG) traded up 1.12% during mid-day trading on Tuesday. The stock has a 52 week low of $32.84 and a 52 week high of $48.94. Its 50-day moving average is $44.96 and its 200-day moving average is $43.33. The company has a market cap of $30.200 billion and a price-to-earnings ratio of 22.68.
