Taylor''s comments on G
Taylor says buy Goldcorp for core holding
2007-03-29 17:31 ET - In the News
Jay Taylor in the March 15, 2007, edition of Gold & Technology Stocks tells readers to buy Kevin McArthur's Goldcorp Inc., trading at $28.29. The editor first recommended the stock on April 9, 2005, at $17.10. A $1,000 investment then is now worth $1,641. Mr. Taylor likes Goldcorp because it is an unhedged low-cost gold producer with a focus in North America. It has proven and probable reserves of about 41.1 million gold ounces. Further, Goldcorp boasts a strong balance sheet and robust cash flow. It earned $408.3-million, or 94 cents a share, in 2006. This compares with $285.7-million, or 91 cents a share, a year earlier. Assuming the successful sale of its Peak and Amapari mines, the company has forecast gold production for 2007 of 2.6 million ounces at an estimated cost of less than $150 an ounce. Mr. Taylor comments, "We like the Goldcorp story and encourage you to retain it in your portfolio as a core holding as long as the bull market in gold remains intact."