Essex Investment Management Co. LLC continued to hold its stake in Goldcorp Inc. (NYSE:GG) during the second quarter, Holdings Channel reports. The fund owned 45,800 shares of the company’s stock at the end of the second quarter. Essex Investment Management Co. LLC’s holdings in Goldcorp were worth $876,000 as of its most recent filing with the SEC.
Other large investors also recently added to or reduced their stakes in the company. Smith Affiliated Capital Corp. boosted its stake in Goldcorp by 95.7% in the second quarter. Smith Affiliated Capital Corp. now owns 6,900 shares of the company’s stock worth $132,000 after buying an additional 3,374 shares in the last quarter. Acadian Asset Management LLC bought a new stake in Goldcorp during the second quarter worth about $192,000. Stock Yards Bank & Trust Co. bought a new stake in Goldcorp during the second quarter worth about $224,000. BARING ASSET MANAGEMENT Ltd boosted its stake in Goldcorp by 15.4% in the second quarter. BARING ASSET MANAGEMENT Ltd now owns 13,418 shares of the company’s stock worth $257,000 after buying an additional 1,787 shares in the last quarter. Finally, Simmons Bank bought a new stake in Goldcorp during the first quarter worth about $233,000. 60.40% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Goldcorp Inc. (NYSE:GG) traded down 8.68% during mid-day trading on Tuesday, reaching $14.41. 15,416,050 shares of the company’s stock were exchanged. The stock has a 50 day moving average price of $16.47 and a 200 day moving average price of $17.55. Goldcorp Inc. has a 52 week low of $9.46 and a 52 week high of $20.38. The stock’s market cap is $12.29 billion.
Goldcorp (NYSE:GG) last posted its quarterly earnings data on Wednesday, July 27th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by $0.12. The company had revenue of $921 million for the quarter, compared to analyst estimates of $882.55 million. Goldcorp had a negative net margin of 115.33% and a negative return on equity of 0.71%. The firm’s revenue was down 30.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.08 EPS. Equities research analysts predict that Goldcorp Inc. will post $0.37 EPS for the current year.
A number of equities research analysts recently issued reports on the stock. Vetr cut shares of Goldcorp from a “strong-buy” rating to a “buy” rating and set a $21.00 price target on the stock. in a research note on Wednesday, August 10th. Zacks Investment Research raised shares of Goldcorp from a “hold” rating to a “buy” rating and set a $22.00 price target on the stock in a research note on Tuesday, July 12th. Jefferies Group reaffirmed a “hold” rating on shares of Goldcorp in a research note on Wednesday, June 8th. Desjardins cut shares of Goldcorp from a “buy” rating to a “hold” rating in a research note on Wednesday, July 13th. Finally, Barclays PLC lifted their target price on shares of Goldcorp from $18.00 to $20.00 and gave the stock an “overweight” rating in a research note on Monday, August 8th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Goldcorp has an average rating of “Hold” and a consensus price target of $19.59.
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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