Flossbach Von Storch AG Sells 1,804,000 Shares of Goldcorp Inc. (GG)

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Flossbach Von Storch AG lowered its holdings in Goldcorp Inc. (NYSE:GG) (TSE:G) by 50.1% in the 4th quarter, HoldingsChannel reports. The fund owned 1,795,040 shares of the basic materials company’s stock after selling 1,804,000 shares during the quarter. Flossbach Von Storch AG’s holdings in Goldcorp were worth $17,591,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Wedbush Securities Inc. increased its position in shares of Goldcorp by 4.5% in the fourth quarter. Wedbush Securities Inc. now owns 24,560 shares of the basic materials company’s stock worth $241,000 after acquiring an additional 1,053 shares in the last quarter. First Interstate Bank grew its holdings in Goldcorp by 6.1% during the 4th quarter. First Interstate Bank now owns 19,050 shares of the basic materials company’s stock valued at $187,000 after purchasing an additional 1,100 shares in the last quarter. Rock Point Advisors LLC grew its holdings in Goldcorp by 16.2% during the 4th quarter. Rock Point Advisors LLC now owns 14,348 shares of the basic materials company’s stock valued at $141,000 after purchasing an additional 2,000 shares in the last quarter. Candriam Luxembourg S.C.A. grew its holdings in Goldcorp by 1.2% during the 3rd quarter. Candriam Luxembourg S.C.A. now owns 467,434 shares of the basic materials company’s stock valued at $4,760,000 after purchasing an additional 5,711 shares in the last quarter. Finally, Cedar Wealth Management LLC grew its holdings in Goldcorp by 12.4% during the 4th quarter. Cedar Wealth Management LLC now owns 53,322 shares of the basic materials company’s stock valued at $523,000 after purchasing an additional 5,880 shares in the last quarter. 54.38% of the stock is owned by institutional investors.

GG has been the subject of a number of recent analyst reports. CIBC raised shares of Goldcorp from a “neutral” rating to a “sector outperform” rating in a report on Monday, December 17th. HSBC raised shares of Goldcorp from a “hold” rating to a “buy” rating in a report on Friday, November 16th. Canaccord Genuity reaffirmed a “buy” rating on shares of Goldcorp in a report on Thursday, October 25th. Raymond James reaffirmed a “market perform” rating and set a $14.00 price target on shares of Goldcorp in a report on Tuesday, January 15th. Finally, Scotiabank set a $13.00 price objective on shares of Goldcorp and gave the company a “buy” rating in a research note on Friday, October 26th. One analyst has rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the company’s stock. Goldcorp presently has a consensus rating of “Hold” and a consensus price target of $13.63.

NYSE GG opened at $11.05 on Monday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.48 and a current ratio of 0.83. Goldcorp Inc. has a 12 month low of $8.42 and a 12 month high of $14.66. The firm has a market cap of $9.59 billion, a price-to-earnings ratio of 27.63 and a beta of 0.30.

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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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Institutional Ownership by Quarter for Goldcorp (NYSE:GG)

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