Goldcorp Inc. (NYSE:GG) – Analysts at National Bank Financial dropped their Q3 2016 earnings per share (EPS) estimates for shares of Goldcorp in a research note issued to investors on Wednesday. National Bank Financial analyst S. Parsons now forecasts that the firm will post earnings per share of $0.04 for the quarter, down from their previous forecast of $0.07. National Bank Financial currently has a “Outperform” rating on the stock. National Bank Financial also issued estimates for Goldcorp’s FY2016 earnings at $0.18 EPS and FY2017 earnings at $0.35 EPS.
Goldcorp (NYSE:GG) last announced its quarterly earnings data on Wednesday, July 27th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates 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 EPS. The company’s quarterly revenue was down 30.1% compared to the same quarter last year.
A number of other equities research analysts have also issued reports on GG. Desjardins raised shares of Goldcorp from a “hold” rating to a “buy” rating in a report on Wednesday, June 22nd. Royal Bank Of Canada reaffirmed an “underperform” rating and set a $22.00 target price on shares of Goldcorp in a report on Saturday, June 25th. Zacks Investment Research raised shares of Goldcorp from a “hold” rating to a “buy” rating and set a $21.00 target price for the company in a report on Tuesday, June 28th. Vetr lowered shares of Goldcorp from a “strong-buy” rating to a “sell” rating and set a $19.34 target price for the company. in a report on Tuesday, July 5th. Finally, Deutsche Bank AG reissued a “sell” rating on shares of Goldcorp in a report on Thursday, July 7th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $19.59.
Shares of Goldcorp (NYSE:GG) opened at 14.31 on Friday. Goldcorp has a one year low of $9.46 and a one year high of $20.38. The company’s 50-day moving average is $15.67 and its 200-day moving average is $17.42. The company’s market cap is $12.21 billion.
A number of hedge funds have recently modified their holdings of the stock. Van ECK Associates Corp boosted its stake in shares of Goldcorp by 19.5% in the second quarter. Van ECK Associates Corp now owns 47,198,082 shares of the company’s stock valued at $902,899,000 after buying an additional 7,717,003 shares during the period. Mackenzie Financial Corp purchased a new stake in shares of Goldcorp during the second quarter valued at $98,893,000. AQR Capital Management LLC boosted its stake in shares of Goldcorp by 156.6% in the second quarter. AQR Capital Management LLC now owns 4,573,444 shares of the company’s stock valued at $87,055,000 after buying an additional 2,791,174 shares during the period. Emerald Acquisition Ltd. purchased a new stake in shares of Goldcorp during the second quarter valued at $44,336,000. Finally, Vanguard Group Inc. boosted its stake in shares of Goldcorp by 13.3% in the second quarter. Vanguard Group Inc. now owns 17,266,416 shares of the company’s stock valued at $330,306,000 after buying an additional 2,020,730 shares during the period. 60.40% of the stock is currently owned by hedge funds and other 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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