Tuesday, March 22, 2011

Goldcorp (GG) Among Top Gold Equities

Goldcorp's (NYSE:GG) strategy of expanding mining projects by acquiring contiguous deposits is working well for them, and not only extends the life of their mining facilities, but allows them to do it somewhat cheaply, as they can use the existing infrastructure they have in place.

The long-term value of bringing Penasquito into production will also enhance the company over time.

Strong cash flows are also empowering the company to offer profits back to shareholders in the way of dividends, which have more than doubled over the last 12 months.

With global conditions offering support once again to gold prices, it appears Goldcorp could be poised for a breakout, and the investment window may be short to get in at a good price.

Goldcorp closed Monday at $48.18, gaining $0.91, or 1.93 percent.

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