Neuberger Berman Group LLC raised its stake in Goldcorp Inc. (NYSE:GG) (TSE:G) by 10.4% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 65,744 shares of the basic materials company’s stock after buying an additional 6,178 shares during the quarter. Neuberger Berman Group LLC’s holdings in Goldcorp were worth $670,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in the business. CIBC Asset Management Inc increased its stake in Goldcorp by 0.3% in the 3rd quarter. CIBC Asset Management Inc now owns 17,043,530 shares of the basic materials company’s stock valued at $173,513,000 after buying an additional 44,653 shares during the period. Franklin Resources Inc. grew its position 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 acquiring an additional 4,198,072 shares in the last quarter. TD Asset Management Inc. grew its position 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 acquiring an additional 2,036,742 shares in the last quarter. Ruffer LLP grew its position 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 acquiring an additional 6,277,498 shares in the last quarter. Finally, Majedie Asset Management Ltd grew its position 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 acquiring an additional 1,371,946 shares in the last quarter. Hedge funds and other institutional investors own 54.94% of the company’s stock.
Several analysts have commented on the stock. Vertical Research downgraded shares of Goldcorp from a “buy” rating to a “hold” rating in a research report on Wednesday. ValuEngine raised shares of Goldcorp from a “strong sell” rating to a “sell” rating in a research report on Tuesday, October 2nd. JPMorgan Chase & Co. decreased their target price on shares of Goldcorp from $18.00 to $16.00 and set an “overweight” rating for the company in a research report on Monday, September 17th. Macquarie downgraded shares of Goldcorp from an “outperform” rating to a “neutral” rating in a research report on Monday, January 7th. Finally, Royal Bank of Canada decreased their target price on shares of Goldcorp from $16.00 to $15.00 and set an “outperform” rating for the company in a research report on Monday, October 29th. One analyst has rated the stock with a sell rating, seven have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $15.41.
Goldcorp (NYSE:GG) (TSE:G) last posted its quarterly earnings data on Wednesday, October 24th. The basic materials company reported ($0.08) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.02) by ($0.06). The firm had revenue of $621.00 million for the quarter, compared to the consensus estimate of $714.46 million. Goldcorp had a return on equity of 0.97% and a net margin of 2.47%. On average, equities research analysts expect that Goldcorp Inc. will post 0.05 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 21st. Investors of record on Thursday, December 13th were issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.83%. The ex-dividend date of this dividend was Wednesday, December 12th. Goldcorp’s dividend payout ratio is currently 20.00%.
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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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