Goldcorp downgraded to Neutral from Outperform at Credit Suisse Credit Suisse downgraded Goldcorp based on expectations for increased capex and lower production growth due to Penasquito issues. Price target lowered to $45 from $58.
Goldcorp signs Resource Development Agreement with four First Nation communities Goldcorp announced that Porcupine Gold Mines has signed a Resource Development Agreement with four First Nation communities including Mattagami First Nation, Wahgoshig First Nation, Matachewan First Nation and Flying Post First Nation. The agreement establishes a framework for continued consultation on existing and future operations in the Timmins area and defines long-term benefits for the four First Nation communities. Under the agreement, Goldcorp recognizes and respects Aboriginal rights and interests in the area of the Porcupine Gold Mines operation and the four First Nation communities recognize and support Goldcorp's rights and interests in the operation and future development of the mine. The agreement also reflects Goldcorp's commitment to protecting the environment and supporting Aboriginal social and cultural practices in a spirit of continued collaboration.