Goldcorp Inc. (NYSE:GG) (TSE:G) – Investment analysts at Desjardins boosted their Q3 2019 earnings per share (EPS) estimates for Goldcorp in a report released on Monday, January 7th. Desjardins analyst J. Wolfson now anticipates that the basic materials company will post earnings per share of $0.12 for the quarter, up from their prior forecast of $0.09. Desjardins also issued estimates for Goldcorp’s Q4 2019 earnings at $0.15 EPS and FY2019 earnings at $0.41 EPS.
Several other brokerages also recently issued reports on GG. Raymond James reduced their price target on shares of Goldcorp from $18.00 to $17.00 and set a “market perform” rating for the company in a report on Thursday, September 20th. Citigroup downgraded shares of Goldcorp from a “buy” rating to a “neutral” rating and set a $12.00 price target for the company. in a report on Tuesday, September 25th. Zacks Investment Research downgraded shares of Goldcorp from a “hold” rating to a “sell” rating in a report on Tuesday, September 25th. Royal Bank of Canada reissued a “buy” rating and set a $16.00 price target on shares of Goldcorp in a report on Wednesday, September 19th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Goldcorp from $18.00 to $16.00 and set an “overweight” rating for the company in a report on Monday, September 17th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $15.41.
Goldcorp (NYSE:GG) (TSE:G) last released its earnings results on Wednesday, October 24th. The basic materials company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.06). Goldcorp had a net margin of 2.47% and a return on equity of 0.97%. The business had revenue of $621.00 million for the quarter, compared to the consensus estimate of $714.46 million.
A number of hedge funds have recently bought and sold shares of GG. Ruffer LLP lifted its holdings in Goldcorp by 73.2% in the third quarter. Ruffer LLP now owns 14,857,704 shares of the basic materials company’s stock worth $151,473,000 after purchasing an additional 6,277,498 shares during the period. Franklin Resources Inc. lifted its holdings in Goldcorp by 34.1% in the third quarter. Franklin Resources Inc. now owns 16,506,800 shares of the basic materials company’s stock worth $168,091,000 after purchasing an additional 4,198,072 shares during the period. Mackenzie Financial Corp lifted its holdings in Goldcorp by 52.4% in the third quarter. Mackenzie Financial Corp now owns 9,621,784 shares of the basic materials company’s stock worth $98,142,000 after purchasing an additional 3,308,355 shares during the period. TD Asset Management Inc. lifted its holdings in Goldcorp by 15.8% in the third quarter. TD Asset Management Inc. now owns 14,928,339 shares of the basic materials company’s stock worth $151,986,000 after purchasing an additional 2,036,742 shares during the period. Finally, Majedie Asset Management Ltd lifted its holdings in Goldcorp by 15.8% in the third quarter. Majedie Asset Management Ltd now owns 10,034,717 shares of the basic materials company’s stock worth $102,354,000 after purchasing an additional 1,371,946 shares during the period. 54.94% of the stock is owned by institutional investors and hedge funds.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 21st. Investors of record on Thursday, December 13th were issued a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.83%. The ex-dividend date of this dividend was Wednesday, December 12th. Goldcorp’s payout ratio is currently 20.00%.
Goldcorp Company Profile
Goldcorp Inc acquires, explores for, develops, and operates precious metal properties in Canada, the United States, Mexico, and Central and South America. It primarily explores for gold, silver, lead, zinc, and copper deposits. The company's principal producing mining properties include the Éléonore, Musselwhite, Porcupine, and Red Lake mines in Canada; the Peñasquito mine in Mexico; the Cerro Negro mine in Argentina; and the Pueblo Viejo mine in the Dominican Republic.
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