Goldcorp PT Lowered to $47.50 (GG)

Posted by: Shayan Afkhami Posted date: March 19, 2013 In: Analyst Articles - US, Investing

Equities researchers at Scotiabank dropped their target price on shares of Goldcorp (NYSE: GG) from $51.00 to $47.50 in a report issued on Monday.

Shares of Goldcorp (NYSE: GG) traded up 0.25% during mid-day trading on Monday, hitting $32.52. Goldcorp has a one year low of $31.54 and a one year high of $47.42. The stock’s 50-day moving average is currently $33.94. The company has a market cap of $26.406 billion and a P/E ratio of 16.62.

Goldcorp (NYSE: GG) last issued its quarterly earnings data on Thursday, February 14th. The company reported $0.57 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.55 by $0.02. The company had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.56 billion. During the same quarter in the prior year, the company posted $0.66 earnings per share. The company’s quarterly revenue was down 5.3% on a year-over-year basis. Analysts expect that Goldcorp will post $2.07 EPS for the current fiscal year.

GG has been the subject of a number of other recent research reports. Analysts at Zacks reiterated a “neutral” rating on shares of Goldcorp in a research note to investors on Wednesday, March 13th. They now have a $35.00 price target on the stock. Separately, analysts at TheStreet reiterated a “hold” rating on shares of Goldcorp in a research note to investors on Tuesday, March 12th. Finally, analysts at TD Securities cut their price target on shares of Goldcorp from $50.00 to $47.00 in a research note to investors on Monday, March 11th. They now have a “buy” rating on the stock.

Seventeen investment analysts have rated the stock with a buy rating, two have assigned an overweight rating, and seven have issued a hold rating to the company. Goldcorp has an average rating of “overweight” and a consensus target price of $48.93.

The company also recently declared a monthly dividend, which is scheduled for Friday, March 22nd. Shareholders of record on Thursday, March 14th will be given a dividend of $0.05 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date of this dividend is Tuesday, March 12th.

Goldcorp Inc. (Goldcorp) 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.

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