Goldcorp Inc. (NYSE:GG) (TSE:G) had its target price dropped by analysts at Royal Bank Of Canada from $16.00 to $15.00 in a research report issued on Tuesday. The brokerage currently has a “sector perform” rating on the basic materials company’s stock. Royal Bank Of Canada’s price target suggests a potential upside of 16.91% from the company’s current price.

A number of other equities research analysts have also recently issued reports on the stock. Scotiabank reiterated an “outperform” rating and issued a $19.00 price objective on shares of Goldcorp in a report on Thursday, April 27th. Morgan Stanley reiterated an “overweight” rating and issued a $17.00 price objective on shares of Goldcorp in a report on Monday, May 1st. Zacks Investment Research cut shares of Goldcorp from a “hold” rating to a “sell” rating in a report on Friday, July 14th. Macquarie upgraded shares of Goldcorp from a “neutral” rating to an “outperform” rating in a report on Wednesday, July 12th. Finally, BidaskClub upgraded shares of Goldcorp from a “sell” rating to a “hold” rating in a report on Tuesday, July 18th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Goldcorp currently has a consensus rating of “Hold” and an average price target of $17.00.

Shares of Goldcorp (NYSE GG) traded down 0.94% during mid-day trading on Tuesday, hitting $12.71. The stock had a trading volume of 2,763,411 shares. Goldcorp has a one year low of $11.91 and a one year high of $19.00. The firm’s 50 day moving average price is $13.05 and its 200-day moving average price is $14.40. The company has a market cap of $10.99 billion, a PE ratio of 23.32 and a beta of 0.02.

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Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Cidel Asset Management Inc. raised its position in shares of Goldcorp by 17.7% in the first quarter. Cidel Asset Management Inc. now owns 3,318,517 shares of the basic materials company’s stock worth $46,174,000 after buying an additional 498,751 shares in the last quarter. Alliancebernstein L.P. raised its position in shares of Goldcorp by 0.8% in the first quarter. Alliancebernstein L.P. now owns 2,323,040 shares of the basic materials company’s stock worth $33,893,000 after buying an additional 17,312 shares in the last quarter. Lowe Wealth Advisors LLC raised its position in shares of Goldcorp by 0.4% in the second quarter. Lowe Wealth Advisors LLC now owns 68,067 shares of the basic materials company’s stock worth $879,000 after buying an additional 272 shares in the last quarter. Candriam Luxembourg S.C.A. raised its position in shares of Goldcorp by 1.8% in the first quarter. Candriam Luxembourg S.C.A. now owns 394,000 shares of the basic materials company’s stock worth $5,732,000 after buying an additional 7,075 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Goldcorp by 13.1% in the first quarter. Dimensional Fund Advisors LP now owns 3,428,082 shares of the basic materials company’s stock worth $50,016,000 after buying an additional 397,198 shares in the last quarter. 55.88% of the stock is owned by institutional investors and hedge funds.

About Goldcorp

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.

Analyst Recommendations for Goldcorp (NYSE:GG)

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