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Upgrade Alert for Goldcorp (GG)

By Amy Schwartz

Goldcorp (NYSE:GG) was upgraded from Sell to Hold at Deutsche Bank today. The stock closed yesterday at $15.78 on volume of 9.0 million shares, below average daily volume of 9.1 million.

Goldcorp share prices have moved between a 52-week high of $20.38 and a 52-week low of $9.46 and closed yesterday at 67% above that low price at $15.78 per share. Over the past week, the 200-day moving average (MA) has gone up 0.7% while the 50-day MA has advanced 1.7%.

Goldcorp, Inc. is a North American gold producer. The Company has gold mining operations in the United States, Canada, Mexico, Brazil, Argentina, and Australia. Goldcorp owns the Red Lake mine in Ontario.

Potential upside of 17.5% exists for Goldcorp, based on a current level of $15.78 and analysts' average consensus price target of $18.53. Goldcorp shares should encounter resistance at the 50-day moving average (MA) of $16.63 and support at its 200-day MA of $13.87.

SmarTrend is monitoring the recent change of momentum in Goldcorp. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Goldcorp in search of a potential trend change.

Keywords: analyst upgrades/downgrades Goldcorp

Ticker(s): GG