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More Room to Run for Goldcorp
Investors, stock gains are all about earnings and Goldcorp has a lock on them for a while. Let's examine some of the reasons why this stock will perform well over the long term. By long term I'm talking about the next six to forty months.
Goldcorp is a member of the basic materials sector. The 52 week stock price range is between 21.00 and 46.30. At this writing Goldcorp is about ten dollars a share below its 52 week high. This is the slow quarter for gold companies and that makes it a buying opportunity for you, the investor. Demand from Asia picks up in the third and fourth quarters as buyers place their orders for wedding season.
There are 708 million shares outstanding with 55% of them held by institutions. Management is repurchasing stock.
Book value (18.17) is bullish. Book value reflects the value at which assets are carried on the balance sheet.
Relative performance of stocks versus bonds is a favorable influence for Goldcorp. When the total return for stocks has outperformed bonds, that makes a bullish case for Goldcorp.
The long-term debt/capital ratio is 7.16%. This reflects well on the company's financial stability. The average ratio for gold companies is 9.5%.
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