Goldcorp Shares Drop Over 9%

The Financial Post reported that the share price for Goldcorp (TSX:G) dropped more than 9 percent on Wednesday after analysts cut their price targets following a reduction in the company’s 2012 guidance due to lower production and higher costs.

Stephen Walker, RBC Capital Markets analyst stated:

We view this announcement as negative for the next quarter or two until the market resolves the uncertainty surrounding the production profile at Red Lake
and Penasquito

Click here to view the full Financial Post report.