Log in
Forgot password ?
Become a member for free
Sign up
Sign up
Dynamic quotes 

4-Traders Homepage  >  Equities  >  Toronto Stock Exchange  >  Goldcorp Inc.    G   CA3809564097

News SummaryMost relevantAll newsSector newsTweets 

Banks drag TSX to one-week low on Cyprus fears

share with twitter share with LinkedIn share with facebook
share via e-mail
03/21/2013 | 09:57pm CET

Canada's main stock index fell to a one-week low on Thursday as investor anxiety over the threat of a debt default and banking meltdown in Cyprus spurred weakness in financial and energy shares that a surge in gold-mining stocks couldn't overcome.

Stronger manufacturing data from China and the U.S. Federal Reserve's recommitment on Wednesday to its ongoing stimulus program prevented the fall from becoming steeper.

The Toronto Stock Exchange's S&P/TSX composite index <.GSPTSE> closed down 78.68 points, or 0.61 percent, at 12,747.87, very close to its lowest level of the day and its lowest point since March 14.

The crisis in Cyprus revived questions about the economic health of the broader euro zone and brought into focus the risks investors there must face.

"It reinforces the piece that says the problems in Spain, Portugal, Greece and other locations aren't going away in a hurry," said Robert McWhirter, president and portfolio manager at Selective Asset Management.

The European Central Bank gave Cyprus until Monday to raise billions of euros to clinch an international bailout or face losing emergency funds for its banks.

"If this goes down to the wire, there is some risk to the markets," said Stan Wong, vice president and portfolio manager at Macquarie Private Wealth. "Being a little cautious and holding some cash would make some sense."

Financials, the index's weightiest sector, were down 0.8 percent. Royal Bank of Canada (>> Royal Bank of Canada), the country's biggest bank, slipped about 1 percent to C$60.74, and Toronto-Dominion Bank (>> Toronto-Dominion Bank) fell 0.7 percent to C$83.67.

A sharp fall in oil prices and a 2.5 percent decline in Canadian Natural Resources Ltd (>> Canadian Natural Resources Limited) to C$32.79 resulted in the energy sector losing 1.1 percent.

The industrials sector dropped 1.6 percent. Canadian National Railway Co (>> Canadian National Railway Company) was down 2.5 percent at C$98.84.

The Cyprus worries boosted the appeal of gold as a safe haven and pushed the price of the precious metal to a one-month high. <GOL/>

That helped the index's materials sector, which includes mining stocks, gain 0.5 percent, with gold miners rising 2.2 percent. Barrick Gold Corp (>> Barrick Gold Corp.) added 2.4 percent to C$30.31, and Goldcorp Inc (>> Goldcorp Inc.) climbed almost 2 percent to C$34.24.

Lululemon Athletica Inc (>> Lululemon Athletica Inc) said it expected earnings to drop in the current quarter, hurt by a recall of its workout pants. It also reported results for the quarter ended February 3 that came in slightly ahead of forecasts. Shares of the yogawear retailer were up 1.4 percent at C$66.26.

($1=$1.02 Canadian)

(Reporting by John Tilak, editing by Peter Galloway)

By John Tilak

share with twitter share with LinkedIn share with facebook
share via e-mail
Latest news on GOLDCORP INC.
01/17 FINANCIALBUZZ.COM : Global Economic Concerns Boost Gold Prices
01/17 GOLDCORP : HTI Ventures to Acquire Los Filos Gold Mine from Goldcorp
01/16 GOLDCORP : to Host 2017 Investor Day; 2016 Production and Cost Guidance Achieved
01/13 GOLDCORP INC. : Blog Coverage Goldcorp Announced Sale of Cerro Blanco Project to..
01/12 GOLDCORP : Announces Sale of Los Filos Mine
01/12 GOLDCORP : Announces Sale of Los Filos Mine
01/12 GOLDCORP INC. : selling Guatemalan property to Bluestone Resources
01/12 GOLDCORP : Announces Sale of Cerro Blanco Project and Provides Marlin Mine Updat..
01/12 GOLDCORP : Announces Sale of Cerro Blanco Project and Provides Marlin Mine Updat..
01/10 AURYN RESOURCES : Announces Strategic Investment by Goldcorp Inc
More news
Sector news : Gold - NEC
01/23DJRANDGOLD RESOURCES : Kibali Mine Ends Year with Improved Performance -- CEO
01/13DJLONDON MARKETS : FTSE 100 Continues Record Run, Rising For 14th Day In A Row
01/13 FTSE hits record highs, extends historic winning streak
01/12 Fiat Chrysler leads European shares lower on emissions accusations
01/06 FTSE posts record close to round off fifth straight weekly gain
More sector news : Gold - NEC
News from SeekingAlpha
01/23 9 Gold Mining Companies. A Detailed Charts Analysis And Commentary
01/23 RESOURCE SECTOR DIGEST : Don't Believe The Hype
01/19 Goldcorp Gets Exciting
01/18 Goldcorp Is Back
01/17 Goldcorp (GG) Investor Presentation - Slideshow
Financials ($)
Sales 2016 3 724 M
EBIT 2016 353 M
Net income 2016 134 M
Debt 2016 2 082 M
Yield 2016 0,77%
P/E ratio 2016 72,90
P/E ratio 2017 28,87
EV / Sales 2016 4,18x
EV / Sales 2017 4,04x
Capitalization 13 492 M
More Financials
Duration : Period :
Goldcorp Inc. Technical Analysis Chart | G | CA3809564097 | 4-Traders
Full-screen chart
Technical analysis trends GOLDCORP INC.
Short TermMid-TermLong Term
Technical analysis
Income Statement Evolution
More Financials
Mean consensus OUTPERFORM
Number of Analysts 23
Average target price 20,6 $
Spread / Average Target 30%
Consensus details
EPS Revisions
More Estimates Revisions
David A. Garofalo President, Chief Executive Officer & Director
Ian W. Telfer Chairman
Todd Robert White Chief Operating Officer & Executive Vice President
Russell David Ball CFO & Executive VP-Corporate Development
Luis Canepari Vice President-Information Technology
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
GOLDCORP INC.14.01%13 492
More Results