Goldcorp Inc. (USA) (GG) Stands Tall Through Goldageddon

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Net of 2012 production, Goldcorp grew proven and probable reserves by 4% to 67.1 million ounces. Toss in “one of the largest silver reserves in the industry” at 1.2 billion ounces of silver, and Goldcorp’s gold-equivalent reserve base leaps to 88.9 million GEOs (converting silver at 55:1).

Goldcorp has healed swiftly from prior challenges at Red Lake, and enjoyed a strong contribution from Penasquito under the circumstances. Goldcorp’s adjusted earnings of $465 million ($0.57 per share) beat analyst estimates by $0.03, and operating cash flow remained quite healthy at $721 million. Even in the midst of a prolonged cyclical bear market for gold stocks that now seems to be devolving into some form of goldageddon event, the investment case for Goldcorp continues to grow stronger as the share price declines.

The article Goldcorp Stands Tall Through Goldageddon originally appeared on Fool.com and is written by Christopher Barker.

Fool contributor Christopher Barker owns shares of Goldcorp (USA) and Sandstorm Gold. The Motley Fool has no position in any of the stocks mentioned.

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