RE: 5 years agoYou right...if you've held Godcorp or most of the majors for 5 yrs...you've likely had little to no top negative returns. However ....if you've traded in and out of them on the dips/spikes...like i'm guessing many of us have....you should have made some very nice returns. I'm essentially long on many of my various investments...including some of my junior golds that i've done fairly well to date on...however...the larger cap golds ...like G...have been trades for me.
Having said this...will admit I bought back into G several months back essentially as a 'safe haven' play for what i hope/expected to be a nice little return....and up till recently was up about 14-15% ....but didn't sell, as i guess i was a bit 'greedy' and looking for a better return ...and now i'm back to about a 2 % return. Oh well :) ....guess i'll be holding G for a bit longer yet.....as i do think....of all the majoe golds...G has the best upside and it's just a matter of time before i get my 25-35% target return....which i am comfidant i'll get...w a bit more patience.
Fyi....as an aside....read an interesting G+M artile yesterday in which some pundit was listing his Top Silver Picks for 2011....and interesting enough...Goldcorp was fairly high on his list. Which should remind us all that Goldcorp is much more than just a major gold play...but also a play on silver and copper!!!
Also noted that many of the analyst are continuing to significantly revise G price target upwards. CIBC boys and gilrs just raised their price target on G the other day from around $62 to about $75 or so....based on forecast increased gold production and much lower gold cost ....offset from their silver and copper production, etc.
See an except of the article below....
Six top silver stock picks for 2011
Andrea Tse
Published Thursday, Jan. 06, 2011 4:13PM EST
Last updated Thursday, Jan. 06, 2011 4:24PM EST
"....Although its name does little to denote this, Goldcorp (43.08-1.04-2.36%) is a well-positioned silver play for 2011, according to the analysts we surveyed.
“The name is one that people tend to think of it as gold, but it's in the top 20 of silver producers globally with about 13 million ounces a year ,” says Peter Sorrentino of Huntington Funds.
Morningstar analyst Min Tang-Varner recently raised her fair value estimate for Goldcorp by $12 a share to $48 after the company reported a 28 per cent rise in revenue for the third quarter ended Sept. 30 compared with the year before.
This, despite 4 per cent decline gold production, as revenue received a boost from $1,239/oz realized gold prices and $19.15/oz silver prices.
Tang-Varner tells investors that the reduction of Goldcorp's cash cost by $100/oz from the prior quarter to $260/oz due to higher silver, copper and zinc production and the run-up in their prices, was “rather extraordinary.”
Sorrentino says Goldcorp is a stock that investors would be “wise to consider” if they were looking for a name that would be discovered suddenly as a major silver play, without feeling that they were overpaying for it.
Goldcorp also prices everything that it does in Canadian dollars, which should reduce currency risks for investors in Canada. "
Happy investing and GLTA longs!