Goldcorp (NYSE:GG) was downgraded by analysts at TheStreet from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday, Analyst Ratings.Net reports.
The analysts wrote, “Goldcorp (GG) has been downgraded by TheStreet Ratings from hold to sell. The company’s weaknesses can be seen in multiple areas, such as its feeble growth in its earnings per share, deteriorating net income, disappointing return on equity, weak operating cash flow and generally disappointing historical performance in the stock itself.”
Goldcorp (NYSE:GG) traded down 0.98% on Wednesday, hitting $27.18. Goldcorp has a 52-week low of $22.22 and a 52-week high of $47.42. The stock’s 50-day moving average is currently $26.13. The company’s market cap is $22.087 billion.
Goldcorp (NYSE:GG) last released its earnings data on Thursday, July 25th. The company reported $0.14 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.23 by $0.09. The company had revenue of $889.00 million for the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter last year, the company posted $0.41 earnings per share. Goldcorp’s revenue was down 17.8% compared to the same quarter last year. Analysts expect that Goldcorp will post $0.92 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Barclays Capital cut their price target on shares of Goldcorp from $38.00 to $37.00 in a research note to investors on Friday, July 26th. They now have an “overweight” rating on the stock. Separately, analysts at RBC Capital raised their price target on shares of Goldcorp from $36.00 to $37.00 in a research note to investors on Thursday, July 25th. They now have an “outperform” rating on the stock. Finally, analysts at BMO Capital Markets cut their price target on shares of Goldcorp from $42.00 to $35.00 in a research note to investors on Monday, July 15th. They now have a “market perform” rating on the stock.
Three analysts have rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $35.74.
Goldcorp Inc (NYSE:GG) 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.