Polar Capital LLP Invests $24.40 Million in Goldcorp Inc. (GG) Stock
Polar Capital LLP bought a new stake in Goldcorp Inc. (NYSE:GG) (TSE:G) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,489,865 shares of the basic materials company’s stock, valued at approximately $24,401,000.
Other large investors also recently added to or reduced their stakes in the company. We Are One Seven LLC acquired a new stake in shares of Goldcorp during the fourth quarter worth about $92,000. Pembroke Management LTD acquired a new stake in shares of Goldcorp during the fourth quarter worth about $134,000. Advisor Partners LLC acquired a new stake in shares of Goldcorp during the third quarter worth about $107,000. Brown Advisory Inc. acquired a new stake in shares of Goldcorp during the third quarter worth about $111,000. Finally, Gideon Capital Advisors Inc. acquired a new stake in shares of Goldcorp during the fourth quarter worth about $106,000. 55.09% of the stock is currently owned by hedge funds and other institutional investors.
NYSE:GG opened at $10.98 on Thursday. The company has a quick ratio of 0.47, a current ratio of 0.87 and a debt-to-equity ratio of 0.27. The stock has a market cap of $9.72 billion, a P/E ratio of 156.86 and a beta of 0.23. Goldcorp Inc. has a 52-week low of $8.42 and a 52-week high of $14.66.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 22nd. Shareholders of record on Thursday, March 14th will be paid a $0.02 dividend. The ex-dividend date of this dividend is Wednesday, March 13th. This represents a $0.08 dividend on an annualized basis and a yield of 0.73%. Goldcorp’s dividend payout ratio is 114.29%.
GG has been the topic of a number of research analyst reports. UBS Group assumed coverage on Goldcorp in a research report on Friday, January 4th. They set a “buy” rating and a $12.00 price target on the stock. HSBC upgraded Goldcorp from a “hold” rating to a “buy” rating in a report on Friday, November 16th. ValuEngine upgraded Goldcorp from a “sell” rating to a “hold” rating in a report on Wednesday, November 21st. Vertical Research downgraded Goldcorp from a “buy” rating to a “hold” rating in a report on Wednesday, January 9th. Finally, Cormark reiterated a “hold” rating on shares of Goldcorp in a report on Tuesday, January 29th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $13.33.
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Goldcorp Inc acquires, explores for, develops, and operates precious metal properties in Canada, the United States, Mexico, and Central and South America. The company primarily explores for gold, zinc, silver, lead, and copper deposits. Its principal producing mining properties include the Éléonore, Musselwhite, Porcupine, and Red Lake mines in Canada; the Peñasquito mine in Mexico; the Cerro Negro mine in Argentina; and the Pueblo Viejo mine in the Dominican Republic.
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