FY2017 Earnings Forecast for Goldcorp Inc. Issued By Desjardins (GG)
Goldcorp Inc. (NYSE:GG) (TSE:G) – Analysts at Desjardins issued their FY2017 earnings estimates for shares of Goldcorp in a note issued to investors on Monday. Desjardins analyst J. Wolfson expects that the basic materials company will earn $0.50 per share for the year. Desjardins has a “Hold” rating on the stock. Desjardins also issued estimates for Goldcorp’s FY2018 earnings at $0.54 EPS, FY2019 earnings at $0.86 EPS, FY2020 earnings at $0.71 EPS and FY2021 earnings at $0.59 EPS.
A number of other equities analysts also recently commented on the stock. Canaccord Genuity raised shares of Goldcorp from a “hold” rating to a “buy” rating and set a $16.90 price objective for the company in a report on Friday, September 29th. HC Wainwright reissued a “buy” rating on shares of Goldcorp in a report on Monday, September 25th. HSBC downgraded shares of Goldcorp from a “buy” rating to a “hold” rating and set a $14.80 price target for the company. in a report on Wednesday, November 22nd. Jefferies Group set a $13.00 price target on shares of Goldcorp and gave the company a “hold” rating in a report on Tuesday, August 15th. Finally, Royal Bank of Canada set a $15.00 price target on shares of Goldcorp and gave the stock a “hold” rating in a research report on Monday, October 23rd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $16.76.
Goldcorp (NYSE:GG) opened at $11.84 on Tuesday. Goldcorp has a 12 month low of $11.78 and a 12 month high of $17.87. The company has a quick ratio of 0.69, a current ratio of 1.00 and a debt-to-equity ratio of 0.17. The stock has a market cap of $10,369.32, a price-to-earnings ratio of 22.57, a P/E/G ratio of 2.89 and a beta of -0.10.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sei Investments Co. lifted its holdings in shares of Goldcorp by 2.8% during the second quarter. Sei Investments Co. now owns 116,033 shares of the basic materials company’s stock valued at $1,498,000 after purchasing an additional 3,201 shares in the last quarter. Korea Investment CORP raised its stake in shares of Goldcorp by 1.9% in the second quarter. Korea Investment CORP now owns 53,803 shares of the basic materials company’s stock worth $693,000 after buying an additional 1,014 shares during the period. Wedbush Securities Inc. raised its stake in shares of Goldcorp by 11.7% in the second quarter. Wedbush Securities Inc. now owns 25,783 shares of the basic materials company’s stock worth $333,000 after buying an additional 2,707 shares during the period. SG Americas Securities LLC raised its stake in shares of Goldcorp by 431.4% in the second quarter. SG Americas Securities LLC now owns 301,888 shares of the basic materials company’s stock worth $3,897,000 after buying an additional 245,083 shares during the period. Finally, Ballentine Partners LLC bought a new position in shares of Goldcorp in the second quarter worth about $559,000. 53.50% of the stock is currently owned by hedge funds and other institutional investors.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 22nd. Stockholders of record on Thursday, December 14th will be paid 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 0.68%. Goldcorp’s dividend payout ratio (DPR) is presently 13.11%.
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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