CoreCommodity Management LLC Has $210,000 Stake in Goldcorp Inc. (GG)
CoreCommodity Management LLC lessened its stake in Goldcorp Inc. (NYSE:GG) (TSE:G) by 28.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 21,468 shares of the basic materials company’s stock after selling 8,431 shares during the quarter. CoreCommodity Management LLC’s holdings in Goldcorp were worth $210,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of the stock. We Are One Seven LLC acquired a new position in Goldcorp in the fourth quarter worth $92,000. Gideon Capital Advisors Inc. acquired a new position in Goldcorp in the fourth quarter worth $106,000. Brown Advisory Inc. acquired a new position in Goldcorp in the third quarter worth $111,000. Falcon Point Capital LLC acquired a new position in Goldcorp in the fourth quarter worth $116,000. Finally, Independent Advisor Alliance acquired a new position in Goldcorp in the third quarter worth $126,000. Institutional investors and hedge funds own 55.09% of the company’s stock.
GG has been the subject of a number of research reports. ValuEngine raised shares of Goldcorp from a “sell” rating to a “hold” rating in a report on Wednesday, November 21st. CIBC raised shares of Goldcorp from a “neutral” rating to a “sector outperform” rating in a report on Monday, December 17th. UBS Group initiated coverage on shares of Goldcorp in a report on Friday, January 4th. They issued a “buy” rating and a $12.00 price objective for the company. Macquarie downgraded shares of Goldcorp from an “outperform” rating to a “neutral” rating in a report on Monday, January 7th. Finally, Vertical Research downgraded shares of Goldcorp from a “buy” rating to a “hold” rating in a report on Wednesday, January 9th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the company’s stock. Goldcorp has an average rating of “Hold” and an average target price of $13.33.
Goldcorp (NYSE:GG) (TSE:G) last announced its quarterly earnings results on Wednesday, February 13th. The basic materials company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.05. Goldcorp had a negative net margin of 136.84% and a positive return on equity of 0.86%. The company had revenue of $772.00 million during the quarter, compared to the consensus estimate of $853.36 million. On average, analysts anticipate that Goldcorp Inc. will post 0.28 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 22nd. Stockholders of record on Thursday, March 14th will be issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.74%. The ex-dividend date of this dividend is Wednesday, March 13th. Goldcorp’s dividend payout ratio (DPR) is 114.29%.
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Goldcorp Inc acquires, explores for, develops, and operates precious metal properties in Canada, the United States, Mexico, and Central and South America. The company primarily explores for gold, zinc, silver, lead, and copper deposits. Its principal producing mining properties include the Éléonore, Musselwhite, Porcupine, and Red Lake mines in Canada; the Peñasquito mine in Mexico; the Cerro Negro mine in Argentina; and the Pueblo Viejo mine in the Dominican Republic.
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