Analyst Favorites: Goldcorp Ranks As a Top Metals Pick

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A study of analyst recommendations at the major brokerages shows that Goldcorp Inc (Symbol: GG) is the #25 broker analyst pick, on average, out of the 50 stocks making up the Metals Channel Global Mining Titans Index , according to Metals Channel . The Metals Channel Global Mining Titans Index is comprised of the top fifty global leaders from the metals and mining sector. The companies listed in the Metals Channel Global Mining Titans Index are not fixed, but instead variable - updating on a continuous basis to reflect the changing market environment with respect to commodity prices, government policy and market volatility.

From the other direction, when companies have a low rank among analysts, it isn't necessarily the case that investors should conclude that the stock will perform poorly. It can, of course, but a bullish investor could also take the contrarian angle and read into the data that there is lots of room for upside because the stock is so out of favor.

According to the ETF Finder at ETF Channel, GG makes up 13.55% of the Gold Miners ETF ( GDX ) which is trading lower by about 1% on the day Thursday.

GG operates in the Precious Metals sector, among companies like Barrick Gold Corp. ( ABX ) which is off about 0.5% today, and Newmont Mining Corp. ( NEM ) trading lower by about 1.3%. Below is a three month price history chart comparing the stock performance of GG, versus ABX and NEM.

GG,ABX,NEM Relative Performance Chart

GG is currently trading off about 1.7% midday Thursday.

Analyst Favorites of the Metals Channel Global Mining Titans Index ยป



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: Investing , Commodities

Referenced Stocks: GDX , ABX , NEM , GG

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