Carmignac Gestion Trims Position in Goldcorp Inc. (GG)

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Carmignac Gestion decreased its stake in shares of Goldcorp Inc. (NYSE:GG) (TSE:G) by 19.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,693,963 shares of the basic materials company’s stock after selling 3,022,286 shares during the period. Goldcorp accounts for approximately 1.9% of Carmignac Gestion’s holdings, making the stock its 22nd biggest holding. Carmignac Gestion owned about 1.46% of Goldcorp worth $124,401,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of GG. Estabrook Capital Management lifted its position in Goldcorp by 37.7% during the 4th quarter. Estabrook Capital Management now owns 4,475 shares of the basic materials company’s stock worth $44,000 after buying an additional 1,225 shares in the last quarter. We Are One Seven LLC acquired a new position in Goldcorp during the 4th quarter valued at about $92,000. Gideon Capital Advisors Inc. acquired a new position in Goldcorp during the 4th quarter valued at about $106,000. Brown Advisory Inc. acquired a new position in Goldcorp during the 3rd quarter valued at about $111,000. Finally, Falcon Point Capital LLC acquired a new position in Goldcorp during the 4th quarter valued at about $116,000. Institutional investors and hedge funds own 55.07% of the company’s stock.

NYSE GG opened at $11.16 on Friday. Goldcorp Inc. has a 52-week low of $8.42 and a 52-week high of $14.66. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.87 and a quick ratio of 0.47. The company has a market cap of $9.58 billion, a P/E ratio of 159.43 and a beta of 0.23.

Goldcorp (NYSE:GG) (TSE:G) last posted its earnings results on Wednesday, February 13th. The basic materials company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.05. Goldcorp had a positive return on equity of 0.86% and a negative net margin of 136.84%. The business had revenue of $772.00 million during the quarter, compared to analysts’ expectations of $853.36 million. As a group, sell-side analysts expect that Goldcorp Inc. will post 0.28 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 22nd. Investors of record on Thursday, March 14th will be paid a dividend of $0.02 per share. The ex-dividend date is Wednesday, March 13th. This represents a $0.08 dividend on an annualized basis and a yield of 0.72%. Goldcorp’s payout ratio is 114.29%.

GG has been the topic of a number of research reports. Raymond James restated a “market perform” rating and set a $14.00 target price on shares of Goldcorp in a research report on Tuesday, January 15th. CIBC upgraded shares of Goldcorp from a “neutral” rating to a “sector outperform” rating in a research report on Monday, December 17th. UBS Group initiated coverage on shares of Goldcorp in a research report on Friday, January 4th. They set a “buy” rating and a $12.00 target price on the stock. Macquarie downgraded shares of Goldcorp from an “outperform” rating to a “neutral” rating in a research report on Monday, January 7th. Finally, Vertical Research downgraded shares of Goldcorp from a “buy” rating to a “hold” rating in a research report on Wednesday, January 9th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the company. Goldcorp currently has a consensus rating of “Hold” and an average target price of $13.33.

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Goldcorp Profile

Goldcorp Inc acquires, explores for, develops, and operates precious metal properties in Canada, the United States, Mexico, and Central and South America. The company primarily explores for gold, zinc, silver, lead, and copper deposits. Its 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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