Deutsche Bank AG upgraded shares of Goldcorp Inc. (NYSE:GG) from a sell rating to a hold rating in a research note released on Monday. They currently have $16.00 price objective on the stock, up from their previous price objective of $15.00.
Several other research firms also recently commented on GG. HSBC reiterated a buy rating on shares of Goldcorp in a report on Thursday, July 7th. Zacks Investment Research upgraded Goldcorp from a hold rating to a buy rating and set a $22.00 price objective for the company in a report on Tuesday, July 12th. Vetr downgraded Goldcorp from a strong-buy rating to a sell rating and set a $19.34 price objective for the company. in a report on Tuesday, July 5th. Jefferies Group lifted their price objective on Goldcorp from $17.00 to $20.00 and gave the stock a hold rating in a report on Thursday, July 14th. Finally, Desjardins downgraded Goldcorp from a buy rating to a hold rating in a report on Wednesday, July 13th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Goldcorp has a consensus rating of Hold and an average price target of $19.59.
Shares of Goldcorp (NYSE:GG) traded down 6.115% during mid-day trading on Monday, reaching $14.815. 6,073,203 shares of the company’s stock were exchanged. The stock has a 50-day moving average of $16.60 and a 200 day moving average of $17.57. The firm’s market capitalization is $12.64 billion. Goldcorp has a one year low of $9.46 and a one year high of $20.38.
Goldcorp (NYSE:GG) last issued its quarterly earnings results on Wednesday, July 27th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of $0.03 by $0.12. Goldcorp had a negative net margin of 115.33% and a negative return on equity of 0.71%. The company had revenue of $921 million for the quarter, compared to the consensus estimate of $882.55 million. During the same quarter in the previous year, the business earned $0.08 earnings per share. Goldcorp’s revenue was down 30.1% compared to the same quarter last year. On average, analysts forecast that Goldcorp will post $0.37 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently bought and sold shares of GG. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Goldcorp by 7.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 6,779 shares of the company’s stock valued at $130,000 after buying an additional 496 shares during the period. Cohen & Steers Inc. boosted its stake in shares of Goldcorp by 69.7% in the second quarter. Cohen & Steers Inc. now owns 391,545 shares of the company’s stock valued at $7,485,000 after buying an additional 160,800 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in shares of Goldcorp during the second quarter valued at about $4,842,000. Numeric Investors LLC boosted its stake in shares of Goldcorp by 53.3% in the second quarter. Numeric Investors LLC now owns 23,300 shares of the company’s stock valued at $446,000 after buying an additional 8,100 shares during the period. Finally, National Asset Management Inc. boosted its stake in shares of Goldcorp by 41.8% in the second quarter. National Asset Management Inc. now owns 39,978 shares of the company’s stock valued at $765,000 after buying an additional 11,791 shares during the period. 60.40% of the stock is currently owned by 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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