Nationwide Fund Advisors increased its position in shares of Goldcorp Inc. (NYSE:GG) by 80.3% during the second quarter, Holdings Channel reports. The firm owned 122,874 shares of the company’s stock after buying an additional 54,729 shares during the period. Nationwide Fund Advisors’ holdings in Goldcorp were worth $2,351,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in the stock. Emerald Acquisition Ltd. acquired a new position in shares of Goldcorp during the second quarter worth $44,336,000. Wellington Management Group LLP boosted its position in shares of Goldcorp by 67.4% in the first quarter. Wellington Management Group LLP now owns 3,820,879 shares of the company’s stock worth $62,022,000 after buying an additional 1,538,815 shares during the period. Renaissance Technologies LLC boosted its position in shares of Goldcorp by 61.9% in the first quarter. Renaissance Technologies LLC now owns 3,587,561 shares of the company’s stock worth $58,226,000 after buying an additional 1,371,300 shares during the period. TD Asset Management Inc. boosted its position in shares of Goldcorp by 5.1% in the second quarter. TD Asset Management Inc. now owns 16,648,786 shares of the company’s stock worth $316,907,000 after buying an additional 812,785 shares during the period. Finally, Credit Agricole S A boosted its position in shares of Goldcorp by 25.4% in the first quarter. Credit Agricole S A now owns 3,036,082 shares of the company’s stock worth $49,275,000 after buying an additional 615,534 shares during the period. 60.40% of the stock is currently owned by institutional investors and hedge funds.
Shares of Goldcorp Inc. (NYSE:GG) traded down 1.77% during trading on Tuesday, reaching $13.91. 1,098,345 shares of the company’s stock were exchanged. The stock’s market capitalization is $11.87 billion. Goldcorp Inc. has a 52 week low of $9.46 and a 52 week high of $20.38. The company’s 50-day moving average is $15.97 and its 200 day moving average is $17.49.
Goldcorp (NYSE:GG) last posted its quarterly earnings data on Wednesday, July 27th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by $0.12. The firm had revenue of $921 million for the quarter, compared to analysts’ expectations of $882.55 million. Goldcorp had a negative net margin of 115.33% and a negative return on equity of 0.71%. The company’s revenue for the quarter was down 30.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.08 EPS. On average, analysts forecast that Goldcorp Inc. will post $0.37 earnings per share for the current year.
A number of brokerages recently weighed in on GG. Deutsche Bank AG restated a “sell” rating on shares of Goldcorp in a report on Thursday, July 7th. HSBC reiterated a “buy” rating on shares of Goldcorp in a report on Thursday, July 7th. Zacks Investment Research upgraded shares of Goldcorp from a “hold” rating to a “buy” rating and set a $22.00 price target for the company in a report on Tuesday, July 12th. Vetr cut shares of Goldcorp from a “strong-buy” rating to a “sell” rating and set a $19.34 price target for the company. in a report on Tuesday, July 5th. Finally, Jefferies Group boosted their price target on shares of Goldcorp from $17.00 to $20.00 and gave the stock a “hold” rating in a report on Thursday, July 14th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Goldcorp currently has a consensus rating of “Hold” and a consensus price target of $19.59.
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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