Goldcorp (NYSE:GG) (TSE:G) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Tuesday.

According to Zacks, “Goldcorp’s growth drivers lie in its vast array of development and exploration projects. The company is progressing well with its key development projects. It also remains focused on reducing mining costs and improving productivity. However, the company’s weakening production is a concern. Moreover, it has a debt-laden balance sheet. Goldcorp is also exposed to a volatile gold pricing environment. It has also underperformed the industry it belongs to over the past six months.”

A number of other brokerages also recently weighed in on GG. HSBC downgraded shares of Goldcorp from a “buy” rating to a “hold” rating and set a $14.80 target price for the company. in a research note on Wednesday, November 22nd. Jefferies Group set a $13.00 target price on shares of Goldcorp and gave the company a “hold” rating in a research note on Thursday, October 19th. Desjardins downgraded shares of Goldcorp from a “buy” rating to a “hold” rating in a research note on Monday, December 11th. Royal Bank of Canada raised shares of Goldcorp from a “sector perform” rating to an “outperform” rating and raised their target price for the company from $15.00 to $18.00 in a research note on Wednesday, November 1st. Finally, Canaccord Genuity raised shares of Goldcorp from a “hold” rating to a “buy” rating and set a $16.90 target price for the company in a research note on Friday, September 29th. Ten research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Goldcorp has an average rating of “Buy” and a consensus price target of $16.65.

Shares of Goldcorp (GG) traded up $0.45 during midday trading on Tuesday, hitting $14.35. 8,218,235 shares of the company’s stock were exchanged, compared to its average volume of 8,070,000. Goldcorp has a fifty-two week low of $11.64 and a fifty-two week high of $17.87. The company has a market capitalization of $12,470.00, a P/E ratio of 23.92, a price-to-earnings-growth ratio of 2.52 and a beta of -0.10. The company has a quick ratio of 0.69, a current ratio of 1.00 and a debt-to-equity ratio of 0.17.

Institutional investors and hedge funds have recently made changes to their positions in the stock. IHT Wealth Management LLC bought a new stake in shares of Goldcorp during the second quarter valued at approximately $1,441,000. Private Advisor Group LLC bought a new stake in shares of Goldcorp during the third quarter valued at approximately $137,000. Highlander Capital Management LLC increased its position in shares of Goldcorp by 4.7% during the second quarter. Highlander Capital Management LLC now owns 11,125 shares of the basic materials company’s stock valued at $142,000 after acquiring an additional 500 shares in the last quarter. First Allied Advisory Services Inc. bought a new stake in shares of Goldcorp during the second quarter valued at approximately $155,000. Finally, Stephens Inc. AR bought a new stake in shares of Goldcorp during the third quarter valued at approximately $173,000. 53.41% of the stock is owned by institutional investors.

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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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