Goldcorp Inc. (GG) Receives Average Rating of “Hold” from Brokerages
Goldcorp Inc. (NYSE:GG) (TSE:G) has earned an average recommendation of “Hold” from the twenty research firms that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, ten have given a hold recommendation, seven have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $17.18.
Several analysts have recently issued reports on GG shares. BidaskClub lowered shares of Goldcorp from a “sell” rating to a “strong sell” rating in a research report on Saturday, June 17th. Royal Bank Of Canada raised shares of Goldcorp from an “underperform” rating to a “sector perform” rating and boosted their price target for the company from $15.00 to $17.00 in a research report on Thursday, March 16th. They noted that the move was a valuation call. Zacks Investment Research raised shares of Goldcorp from a “sell” rating to a “hold” rating in a research report on Tuesday, March 14th. TD Securities reissued a “buy” rating on shares of Goldcorp in a research report on Thursday, June 15th. Finally, Barclays PLC reissued an “overweight” rating and issued a $18.00 price target (down previously from $19.00) on shares of Goldcorp in a research report on Thursday, June 1st.
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Shares of Goldcorp (GG) traded up 2.033% on Friday, hitting $13.805. 3,184,380 shares of the stock traded hands. The stock has a market cap of $11.82 billion, a price-to-earnings ratio of 47.277 and a beta of 0.04. Goldcorp has a 52 week low of $11.91 and a 52 week high of $20.38. The stock has a 50 day moving average price of $13.67 and a 200-day moving average price of $14.63.
Goldcorp (NYSE:GG) (TSE:G) last posted its quarterly earnings results on Wednesday, April 26th. The basic materials company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.11. Goldcorp had a net margin of 7.31% and a return on equity of 2.72%. The company had revenue of $882 million for the quarter, compared to analyst estimates of $929.91 million. During the same quarter in the previous year, the firm posted $0.10 earnings per share. On average, equities research analysts forecast that Goldcorp will post $0.37 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 23rd. Stockholders of record on Thursday, June 15th will be issued a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date of this dividend is Tuesday, June 13th. Goldcorp’s payout ratio is 26.67%.
Several institutional investors have recently modified their holdings of GG. Skandinaviska Enskilda Banken AB publ raised its position in shares of Goldcorp by 23.6% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 83,400 shares of the basic materials company’s stock worth $1,217,000 after buying an additional 15,900 shares during the last quarter. Brighton Jones LLC bought a new position in shares of Goldcorp during the first quarter worth approximately $266,000. First Financial Equity Corporation bought a new position in shares of Goldcorp during the first quarter worth approximately $162,000. OLD Mutual Customised Solutions Proprietary Ltd. raised its position in shares of Goldcorp by 22.4% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 23,861 shares of the basic materials company’s stock worth $347,000 after buying an additional 4,361 shares during the last quarter. Finally, Barings LLC bought a new position in shares of Goldcorp during the first quarter worth approximately $259,000. 56.85% of the stock is currently owned by hedge funds and other institutional investors.
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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