Goldcorp (GG) Cut to Hold at Canaccord Genuity

Canaccord Genuity downgraded shares of Goldcorp (NYSE:GG) (TSE:G) from a buy rating to a hold rating in a research note issued to investors on Wednesday morning, The Fly reports.

A number of other equities analysts also recently commented on GG. Scotiabank set a $18.00 target price on shares of Goldcorp and gave the stock a buy rating in a research note on Tuesday. Zacks Investment Research upgraded shares of Goldcorp from a hold rating to a buy rating and set a $15.00 target price for the company in a research note on Monday, January 8th. HC Wainwright reiterated a buy rating on shares of Goldcorp in a research note on Monday, September 25th. Jefferies Group set a $13.00 target price on shares of Goldcorp and gave the stock a hold rating in a research note on Thursday, October 19th. Finally, Desjardins downgraded shares of Goldcorp from a buy rating to a hold rating in a research note on Monday, December 11th. Ten research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus price target of $17.39.

Shares of Goldcorp (NYSE GG) traded down $0.07 during mid-day trading on Wednesday, hitting $14.32. 6,960,000 shares of the company were exchanged, compared to its average volume of 8,790,000. The company has a current ratio of 1.00, a quick ratio of 0.69 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $12,430.00, a P/E ratio of 23.87, a P/E/G ratio of 2.70 and a beta of -0.10. Goldcorp has a 12-month low of $11.64 and a 12-month high of $17.87.

Goldcorp (NYSE:GG) (TSE:G) last issued its earnings results on Wednesday, October 25th. The basic materials company reported $0.09 EPS for the quarter, hitting analysts’ consensus estimates of $0.09. Goldcorp had a net margin of 14.91% and a return on equity of 3.27%. equities analysts expect that Goldcorp will post 0.44 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 22nd. Shareholders of record on Thursday, December 14th were paid a $0.02 dividend. The ex-dividend date was Wednesday, December 13th. This represents a $0.08 annualized dividend and a yield of 0.56%. Goldcorp’s dividend payout ratio is presently 13.33%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GG. JPMorgan Chase & Co. boosted its stake in Goldcorp by 124.0% in the second quarter. JPMorgan Chase & Co. now owns 1,420,921 shares of the basic materials company’s stock valued at $18,344,000 after acquiring an additional 786,563 shares in the last quarter. AXA raised its holdings in shares of Goldcorp by 5.4% in the second quarter. AXA now owns 214,887 shares of the basic materials company’s stock valued at $2,774,000 after buying an additional 11,081 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Goldcorp by 106.8% in the second quarter. PNC Financial Services Group Inc. now owns 39,447 shares of the basic materials company’s stock valued at $510,000 after buying an additional 20,372 shares during the last quarter. Public Sector Pension investment Board raised its holdings in shares of Goldcorp by 23.6% in the second quarter. Public Sector Pension investment Board now owns 1,694,443 shares of the basic materials company’s stock valued at $21,815,000 after buying an additional 323,800 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Goldcorp by 4.1% in the second quarter. Vanguard Group Inc. now owns 20,163,542 shares of the basic materials company’s stock valued at $260,311,000 after buying an additional 801,859 shares during the last quarter. Institutional investors own 53.42% of the company’s stock.

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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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Analyst Recommendations for Goldcorp (NYSE:GG)

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