Goldcorp Inc. (G:CA) is one of the best performing stocks in the materials sector in the S&P/TSX Composite Index at the lunch break on September 22. Shares of G:CA have climbed 1.72% about halfway through the session to $22.44 after closing the day prior at $22.06. So far, the stock has traded as high as $22.53 and as low as $22.15 in morning action. Today’s advance has come with about 1.63 million shares changing hands, compared to an average 30-day volume of 2.82 million for Goldcorp Inc.. The price is currently below the 30-day volume weighted average price of $22.34 for G:CA.
The share appreciation gives the materials company a market capitalization of $18.83 billion based upon 853.4 million shares outstanding. It also means that Goldcorp Inc. has a price-to-book ratio of 1.11:1 and a price-to-earnings ratio of :1.
In the past 52 weeks, shares of G:CA have traded as low as $13.55 and as high as $26.56. Technical traders will take note that at $22.44, shares of G:CA are trading above their 200-day MA at $21.04 and below their 50-day MA at $22.77. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding above them is typically regarded as bullish.
Who is Goldcorp Inc.?
Goldcorp Inc is a gold producer. The Company is engaged in the operation, exploration, development, and acquisition of precious metal properties in Canada, the United States, Mexico, and Central and South America. The company’s 9796 employees are led by CEO David Garofalo from the corporate headquarters at 666 Burrard Street.
What is the S&P/TSX Composite Index?
Developed and managed by S&P Dow Jones Indices and launched in January 1977, the S&P/TSX Composite is the headline index for the Canadian equity market. Generally, when investors refer to movement in the Canadian markets, they are referring to the S&P/TSX Composite, as it is the broadest index in the S&P/TSX franchise. The index includes more than 230 of the biggest companies traded on the Toronto Stock Exchange, with financials making up the most heavily weighted sector in the index, followed by energy and materials. The Toronto Stock Exchange serves as the distributor of both real-time and historical data for this index.
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