Q4 2017 EPS Estimates for Goldcorp Inc. (GG) Boosted by Cormark
Goldcorp Inc. (NYSE:GG) (TSE:G) – Equities research analysts at Cormark lifted their Q4 2017 earnings per share (EPS) estimates for shares of Goldcorp in a report issued on Monday. Cormark analyst R. Gray now anticipates that the basic materials company will post earnings of $0.17 per share for the quarter, up from their previous estimate of $0.13. Cormark also issued estimates for Goldcorp’s Q1 2018 earnings at $0.20 EPS, Q2 2018 earnings at $0.20 EPS, Q3 2018 earnings at $0.20 EPS, Q4 2018 earnings at $0.20 EPS, FY2018 earnings at $0.81 EPS, Q1 2019 earnings at $0.21 EPS, Q2 2019 earnings at $0.21 EPS, Q3 2019 earnings at $0.21 EPS, Q4 2019 earnings at $0.21 EPS and FY2019 earnings at $0.83 EPS.
Other equities analysts have also recently issued research reports about the company. Zacks Investment Research cut Goldcorp from a “hold” rating to a “sell” rating in a research note on Monday, October 9th. JPMorgan Chase & Co. lifted their target price on Goldcorp from $16.00 to $18.00 and gave the company an “overweight” rating in a research note on Wednesday, November 15th. Royal Bank of Canada raised Goldcorp from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from $15.00 to $18.00 in a research note on Wednesday, November 1st. National Bank Financial raised Goldcorp from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 26th. Finally, HSBC cut Goldcorp from a “buy” rating to a “hold” rating and set a $14.80 target price on the stock. in a research note on Wednesday, November 22nd. Nine research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Goldcorp has a consensus rating of “Buy” and an average price target of $16.65.
Goldcorp (NYSE:GG) opened at $13.53 on Tuesday. The firm has a market capitalization of $11,750.00, a PE ratio of 22.55, a P/E/G ratio of 2.51 and a beta of -0.10. Goldcorp has a 12 month low of $11.64 and a 12 month high of $17.87. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.00 and a quick ratio of 0.69.
Institutional investors have recently made changes to their positions in the company. Swiss National Bank lifted its holdings in shares of Goldcorp by 1.0% during the 3rd quarter. Swiss National Bank now owns 7,797,700 shares of the basic materials company’s stock valued at $101,269,000 after buying an additional 73,700 shares during the last quarter. Virtu Financial LLC lifted its holdings in shares of Goldcorp by 170.6% during the 3rd quarter. Virtu Financial LLC now owns 70,331 shares of the basic materials company’s stock valued at $562,000 after buying an additional 44,340 shares during the last quarter. CIBC Asset Management Inc lifted its holdings in shares of Goldcorp by 28.1% during the 3rd quarter. CIBC Asset Management Inc now owns 11,876,598 shares of the basic materials company’s stock valued at $153,791,000 after buying an additional 2,605,368 shares during the last quarter. Caxton Associates LP acquired a new stake in Goldcorp in the 3rd quarter worth approximately $5,832,000. Finally, Russell Investments Group Ltd. lifted its holdings in Goldcorp by 40.7% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,890,911 shares of the basic materials company’s stock worth $24,485,000 after purchasing an additional 547,352 shares during the last quarter. Institutional investors and hedge funds own 53.41% of the company’s stock.
The company also recently declared a quarterly dividend, which was paid on Friday, December 22nd. Stockholders of record on Thursday, December 14th were issued a dividend of $0.02 per share. The ex-dividend date of this dividend was Wednesday, December 13th. This represents a $0.08 annualized dividend and a dividend yield of 0.59%. Goldcorp’s dividend payout ratio is 13.33%.
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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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