Ahead of the open last Friday, Goldcorp (GG: sentiment, chart, options) reported a third-quarter, adjusted profit of 9 cents per share on revenue of $552.2 million. However, Wall Street was looking for earnings of 16 cents per share, and analysts were quick to express their displeasure. Immediately following the report, UBS cut its price target on GG to $25 per share from $40, while maintaining its "buy" rating. This morning, Genuity also reiterated its "buy" rating, but slashed its price target on the equity to C$35 from C$45 per share. Furthermore, RBC cut its price target to $38 per share from $47 per share.

Checking in with Thomson Financial, the current average 12-month price target for GG rests at $37.09 per share -- a 98% premium to Friday's close of $18.66 per share. Elsewhere, Zacks.com reports that the stock has garnered 10 "buys," 4 "holds," and no "sell" ratings. This extremely bullish configuration leaves the door wide open for additional price-target cuts or downgrades from the brokerage community if the company fails to live up to these lofty expectations.

Technically speaking, GG appears far from deserving of Wall Street's outpouring of love. Since January, the stock has fallen more than 45% under resistance from its 10-week and 20-week moving averages. From a short-term perspective, GG is battling resistance at its falling 10-day and 20-day moving averages. What's more, the equity continues to struggle with round-number resistance at the 20 level. Should the shares receive another rejection at the 20 level, we could see some of these GG bulls abandon their positions, thus increasing selling pressure on the stock.