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Goldcorp | Cara Trading Advisors | Briefing Update 001a
Update, Goldcorp as at 10/07/2009 | Chris Start
In February 2008, Bill Cara released a detailed report on Goldcorp (GG), which was trading in the mid US$40s. At the time analysts were unanimous with their 12-month price targets in the high US$40s. Against this trend CTA issued a SELL recommendation.
Within eight months of the CTA SELL recommendation, the Goldcorp stock price plunged -69% to a low of US$13.84.
In November 2008, Cara Trading Advisors released another detailed CTA Briefing on Goldcorp. In this report, CTA issued a BUY recommendation at US$20.50 - $21.00 with a US$35, 12-month price target with a new high of US$55 within two years.
I believe that Goldcorp is still the standout gold company for investors and that the information provided at the Denver Gold conference supports this view. In this report I review the Denver presentation in context of the earlier CTA reports and in particular focus on Goldcorp’s:
- Position as a Global Gold Miner
- Growth Profile
- Country Risk
- Cash costs
- Concern about Reliance on Red Lake
| Attachment | Size |
|---|---|
| CTA GG Briefing Update 001A | 2.92 MB |
