Desjardins Comments on Goldcorp Inc.’s Q4 2017 Earnings (GG)
Goldcorp Inc. (NYSE:GG) (TSE:G) – Equities researchers at Desjardins issued their Q4 2017 earnings per share estimates for shares of Goldcorp in a research report issued on Monday. Desjardins analyst J. Wolfson expects that the basic materials company will post earnings per share of $0.11 for the quarter. Desjardins currently has a “Hold” rating on the stock. Desjardins also issued estimates for Goldcorp’s Q1 2018 earnings at $0.11 EPS, Q2 2018 earnings at $0.14 EPS, Q3 2018 earnings at $0.14 EPS, Q4 2018 earnings at $0.15 EPS, Q1 2019 earnings at $0.21 EPS, Q2 2019 earnings at $0.21 EPS and Q3 2019 earnings at $0.22 EPS.
A number of other analysts have also recently issued reports on the company. National Bank Financial raised Goldcorp from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 26th. Scotiabank reduced their price objective on Goldcorp from $18.00 to $17.00 and set an “outperform” rating for the company in a research report on Monday, October 30th. Royal Bank of Canada set a $15.00 price objective on Goldcorp and gave the company a “hold” rating in a research report on Monday, October 23rd. Zacks Investment Research cut Goldcorp from a “hold” rating to a “sell” rating in a research report on Monday, October 9th. Finally, J P Morgan Chase & Co lifted their price objective on Goldcorp from $16.00 to $18.00 and gave the company an “overweight” rating in a research report on Wednesday, November 15th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $16.76.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 22nd. Investors of record on Thursday, December 14th will be given a dividend of $0.02 per share. The ex-dividend date of this dividend is Wednesday, December 13th. This represents a $0.08 annualized dividend and a dividend yield of 0.64%. Goldcorp’s dividend payout ratio is presently 13.11%.
A number of institutional investors and hedge funds have recently modified their holdings of GG. CIBC World Markets Inc. increased its stake in Goldcorp by 91.2% during the second quarter. CIBC World Markets Inc. now owns 10,717,490 shares of the basic materials company’s stock valued at $138,363,000 after acquiring an additional 5,112,943 shares during the period. Investec Asset Management LTD bought a new stake in shares of Goldcorp in the 3rd quarter valued at approximately $49,710,000. Carmignac Gestion grew its stake in shares of Goldcorp by 11.6% in the 3rd quarter. Carmignac Gestion now owns 30,505,522 shares of the basic materials company’s stock valued at $395,352,000 after purchasing an additional 3,168,910 shares during the period. CIBC Asset Management Inc grew its stake in shares of Goldcorp by 28.1% in the 3rd quarter. CIBC Asset Management Inc now owns 11,876,598 shares of the basic materials company’s stock valued at $153,791,000 after purchasing an additional 2,605,368 shares during the period. Finally, Guardian Capital LP grew its stake in shares of Goldcorp by 37.3% in the 3rd quarter. Guardian Capital LP now owns 8,664,209 shares of the basic materials company’s stock valued at $112,193,000 after purchasing an additional 2,354,277 shares during the period. Hedge funds and other institutional investors own 53.50% of the company’s stock.
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Goldcorp Company Profile
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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