Goldcorp outshines Barrick and Newmont amid lower gold prices, analyst says

|About: Barrick Gold Corporation (ABX)|By:, SA News Editor

Tumbling gold prices could cause shares of Barrick Gold (NYSE:ABX) and Newmont Mining (NYSE:NEM) to continue their downward slide, but Goldcorp (NYSE:GG) could enjoy gains, Morgan Stanley analyst Evan Kurtz says.

While continuing to rate ABX and NEM as Equal Weight, Kurtz rates GG at Overweight as a good entry point in the stock, believing GG's management has set the operational bar at an achievable level.

Kurtz prefers GG because the stock is pricing in gold below the strip, based on NAV; production guidance for 2016-18 appears conservative; and it is less likely to start work on a large greenfield project or be acquisitive in a big way due to its steady medium-term production and large resource base.