Goldcorp Inc. (NYSE:GG)‘s stock had its “neutral” rating reiterated by Citigroup Inc. in a report issued on Monday.
Other equities research analysts have also recently issued research reports about the stock. BMO Capital Markets reissued a “buy” rating and set a $23.00 price target on shares of Goldcorp in a research report on Thursday, July 28th. Zacks Investment Research raised shares of Goldcorp from a “hold” rating to a “buy” rating and set a $22.00 price target for the company in a research report on Tuesday, July 12th. HSBC reissued a “buy” rating on shares of Goldcorp in a research report on Thursday, July 7th. Desjardins raised shares of Goldcorp from a “hold” rating to a “buy” rating in a research report on Wednesday, June 22nd. Finally, Vetr cut shares of Goldcorp from a “strong-buy” rating to a “buy” rating and set a $21.00 price target for the company. in a research report on Wednesday, August 10th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $19.59.
Shares of Goldcorp (NYSE:GG) opened at 14.86 on Monday. Goldcorp has a 1-year low of $9.46 and a 1-year high of $20.38. The company’s market capitalization is $12.68 billion. The firm has a 50-day moving average of $15.59 and a 200 day moving average of $17.41.
Goldcorp (NYSE:GG) last announced its quarterly earnings results on Wednesday, July 27th. The company reported ($0.09) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by $0.12. The firm had revenue of $921 million for the quarter, compared to analysts’ expectations of $882.55 million. Goldcorp had a negative net margin of 115.33% and a negative return on equity of 0.71%. The company’s quarterly revenue was down 30.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.08 EPS. On average, equities research analysts expect that Goldcorp will post $0.37 earnings per share for the current year.
Several hedge funds have recently made changes to their positions in the company. Van ECK Associates Corp raised its stake in shares of Goldcorp by 19.5% in the second quarter. Van ECK Associates Corp now owns 47,198,082 shares of the company’s stock worth $902,899,000 after buying an additional 7,717,003 shares in the last quarter. Mackenzie Financial Corp bought a new stake in shares of Goldcorp during the second quarter worth approximately $98,893,000. AQR Capital Management LLC raised its stake in shares of Goldcorp by 156.6% in the second quarter. AQR Capital Management LLC now owns 4,573,444 shares of the company’s stock worth $87,055,000 after buying an additional 2,791,174 shares in the last quarter. Emerald Acquisition Ltd. bought a new stake in shares of Goldcorp during the second quarter worth approximately $44,336,000. Finally, Vanguard Group Inc. raised its stake in shares of Goldcorp by 13.3% in the second quarter. Vanguard Group Inc. now owns 17,266,416 shares of the company’s stock worth $330,306,000 after buying an additional 2,020,730 shares in the last quarter. Hedge funds and other institutional investors own 60.48% 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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