Goldcorp Inc. (GG) Receives “Overweight” Rating from Morgan Stanley
Other equities research analysts have also issued reports about the stock. Royal Bank Of Canada restated a hold rating and set a $16.00 price objective on shares of Goldcorp in a report on Tuesday, June 13th. Scotiabank restated an outperform rating and set a $19.00 price objective on shares of Goldcorp in a report on Thursday, April 27th. Jefferies Group LLC restated a hold rating and set a $13.00 price objective (down from $15.00) on shares of Goldcorp in a report on Friday, July 14th. BidaskClub upgraded shares of Goldcorp from a sell rating to a hold rating in a report on Tuesday, July 18th. Finally, Macquarie upgraded shares of Goldcorp from a neutral rating to an outperform rating in a report on Wednesday, July 12th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Goldcorp has a consensus rating of Hold and a consensus price target of $17.27.
Goldcorp (GG) opened at 13.43 on Friday. The stock has a 50 day moving average of $13.27 and a 200-day moving average of $14.64. The firm has a market capitalization of $11.50 billion, a P/E ratio of 45.99 and a beta of 0.02. Goldcorp has a 1-year low of $11.91 and a 1-year high of $19.35.
Goldcorp (NYSE:GG) (TSE:G) last issued its quarterly earnings data on Wednesday, April 26th. The basic materials company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.11. Goldcorp had a net margin of 7.31% and a return on equity of 2.72%. The business had revenue of $882 million for the quarter, compared to analyst estimates of $929.91 million. During the same period last year, the business posted $0.10 earnings per share. On average, equities research analysts anticipate that Goldcorp will post $0.37 earnings per share for the current year.
Several hedge funds and other institutional investors have recently made changes to their positions in GG. Van ECK Associates Corp increased its position in shares of Goldcorp by 5.6% in the first quarter. Van ECK Associates Corp now owns 58,304,591 shares of the basic materials company’s stock worth $850,663,000 after buying an additional 3,112,702 shares during the period. Vanguard Group Inc. increased its position in shares of Goldcorp by 4.4% in the first quarter. Vanguard Group Inc. now owns 19,361,683 shares of the basic materials company’s stock worth $282,487,000 after buying an additional 814,810 shares during the period. FMR LLC increased its position in shares of Goldcorp by 163.8% in the first quarter. FMR LLC now owns 17,612,338 shares of the basic materials company’s stock worth $256,931,000 after buying an additional 10,937,064 shares during the period. TD Asset Management Inc. increased its position in shares of Goldcorp by 4.3% in the first quarter. TD Asset Management Inc. now owns 16,363,749 shares of the basic materials company’s stock worth $238,040,000 after buying an additional 681,367 shares during the period. Finally, Artisan Partners Limited Partnership increased its position in shares of Goldcorp by 1.6% in the first quarter. Artisan Partners Limited Partnership now owns 15,412,581 shares of the basic materials company’s stock worth $224,870,000 after buying an additional 246,922 shares during the period. 56.62% of the stock is owned by institutional investors.
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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