Goldcorp Inc. (NYSE:GG) was upgraded by research analysts at Deutsche Bank AG from a “sell” rating to a “hold” rating in a research report issued on Monday, The Fly reports.
Several other research analysts also recently issued reports on the stock. BMO Capital Markets restated a “buy” rating and set a $23.00 price objective on shares of Goldcorp in a report on Thursday, July 28th. HSBC restated a “buy” rating on shares of Goldcorp in a report on Thursday, July 7th. Vetr downgraded shares of Goldcorp from a “strong-buy” rating to a “sell” rating and set a $19.34 price objective on the stock. in a report on Tuesday, July 5th. Morgan Stanley started coverage on shares of Goldcorp in a report on Tuesday, August 9th. They set an “overweight” rating and a $22.00 price objective on the stock. Finally, Desjardins upgraded shares of Goldcorp from a “hold” rating to a “buy” rating in a report on Wednesday, June 22nd. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $19.36.
Shares of Goldcorp (NYSE:GG) opened at 16.52 on Monday. Goldcorp has a 12-month low of $9.46 and a 12-month high of $20.38. The stock’s 50 day moving average price is $16.69 and its 200-day moving average price is $17.56. The company’s market cap is $14.09 billion.
Goldcorp (NYSE:GG) last posted its quarterly earnings data on Wednesday, July 27th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by $0.12. Goldcorp had a negative return on equity of 0.71% and a negative net margin of 115.33%. The company had revenue of $921 million for the quarter, compared to the consensus estimate of $882.55 million. During the same quarter in the previous year, the firm posted $0.08 EPS. The business’s revenue for the quarter was down 30.1% compared to the same quarter last year. On average, equities research analysts forecast that Goldcorp will post $0.37 earnings per share for the current year.
A number of institutional investors have recently made changes to their positions in GG. Northwestern Mutual Wealth Management Co. raised its position in shares of Goldcorp by 7.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 6,779 shares of the company’s stock valued at $130,000 after buying an additional 496 shares in the last quarter. Smith Affiliated Capital Corp. raised its position in shares of Goldcorp by 95.7% in the second quarter. Smith Affiliated Capital Corp. now owns 6,900 shares of the company’s stock valued at $132,000 after buying an additional 3,374 shares in the last quarter. M&R Capital Management Inc. acquired a new position in shares of Goldcorp during the second quarter valued at $137,000. Seven Eight Capital LLC acquired a new position in shares of Goldcorp during the second quarter valued at $176,000. Finally, Highlander Capital Management LLC raised its position in shares of Goldcorp by 27.0% in the second quarter. Highlander Capital Management LLC now owns 9,400 shares of the company’s stock valued at $180,000 after buying an additional 2,000 shares in the last quarter. Institutional investors and hedge funds own 60.40% of the company’s stock.
Goldcorp Inc is a gold producer engaged in the operation, exploration, development and acquisition of precious metal properties in Canada, the United States, Mexico, and Central and South America. The Company is engaged in the sale of gold, silver, lead, zinc and copper. The Company’s segments include Red Lake Gold Mines Ontario Partnership (Red Lake), Goldcorp Canada Ltd./Goldcorp Inc (Porcupine), Musselwhite, Les Mines Opinaca Ltee (Eleonore), Minera Penasquito SA de C.V.
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