Shares of Goldcorp Inc. (NYSE:GG) have been given an average recommendation of “Hold” by the twenty-one ratings firms that are presently covering the company. Two research analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation, seven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $20.23.
Several analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Goldcorp from a “hold” rating to a “buy” rating and set a $22.00 price target on the stock in a research report on Tuesday, July 12th. HSBC reiterated a “buy” rating on shares of Goldcorp in a research report on Thursday, July 7th. Desjardins upgraded shares of Goldcorp from a “hold” rating to a “buy” rating in a research report on Wednesday, June 22nd. BMO Capital Markets reiterated a “buy” rating and set a $23.00 price target on shares of Goldcorp in a research report on Thursday, July 28th. Finally, Vetr lowered shares of Goldcorp from a “strong-buy” rating to a “buy” rating and set a $21.00 target price on the stock. in a research report on Wednesday, August 10th.
Large investors have recently bought and sold shares of the stock. Wellington Management Group LLP increased its stake in Goldcorp by 67.4% in the first quarter. Wellington Management Group LLP now owns 3,820,879 shares of the company’s stock valued at $62,022,000 after buying an additional 1,538,815 shares during the period. Societe Generale bought a new stake in Goldcorp during the second quarter valued at $3,043,000. Renaissance Technologies LLC increased its stake in Goldcorp by 61.9% in the first quarter. Renaissance Technologies LLC now owns 3,587,561 shares of the company’s stock valued at $58,226,000 after buying an additional 1,371,300 shares during the period. Carmignac Gestion increased its stake in Goldcorp by 1.0% in the second quarter. Carmignac Gestion now owns 21,870,143 shares of the company’s stock valued at $418,376,000 after buying an additional 218,800 shares during the period. Finally, Legal & General Group Plc increased its stake in Goldcorp by 1.3% in the first quarter. Legal & General Group Plc now owns 4,543,271 shares of the company’s stock valued at $74,016,000 after buying an additional 59,132 shares during the period. 60.40% of the stock is owned by hedge funds and other institutional investors.
Shares of Goldcorp (NYSE:GG) opened at 16.52 on Tuesday. The firm’s 50 day moving average is $16.69 and its 200 day moving average is $17.56. Goldcorp has a 12 month low of $9.46 and a 12 month high of $20.38. The company’s market cap is $14.09 billion.
Goldcorp (NYSE:GG) last announced its earnings results on Wednesday, July 27th. The company reported ($0.09) EPS for the quarter, missing the Thomson Reuters’ 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 business had revenue of $921 million for the quarter, compared to the consensus estimate of $882.55 million. During the same period in the prior year, the business posted $0.08 earnings per share. The firm’s revenue for the quarter was down 30.1% compared to the same quarter last year. On average, equities analysts predict that Goldcorp will post $0.37 earnings per share for the current year.
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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