Goldman Sachs Group Inc. Initiates Coverage on Goldcorp (GG)
Analysts at Goldman Sachs Group Inc. began coverage on shares of Goldcorp (NYSE:GG) in a research report issued to clients and investors on Friday, Analyst Ratings.Net reports. The firm set a “buy” rating on the stock.
Shares of Goldcorp (NYSE:GG) opened at 27.31 on Friday. Goldcorp has a 52 week low of $22.22 and a 52 week high of $47.42. The stock has a 50-day moving average of $28.61 and a 200-day moving average of $28.72. The company’s market cap is $22.176 billion.
Goldcorp (NYSE:GG) last issued its quarterly earnings data on Thursday, July 25th. The company reported $0.14 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.23 by $0.09. The company had revenue of $889.00 million for the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter last year, the company posted $0.41 earnings per share. Goldcorp’s revenue was down 17.8% compared to the same quarter last year. On average, analysts predict that Goldcorp will post $0.94 earnings per share for the current fiscal year.
GG has been the subject of a number of other recent research reports. Analysts at Zacks upgraded shares of Goldcorp (NYSE:GG) from an “underperform” rating to a “neutral” rating in a research note to investors on Tuesday, September 10th. They now have a $31.00 price target on the stock. Separately, analysts at Barclays Capital cut their price target on shares of Goldcorp (NYSE:GG) from $37.00 to $36.00 in a research note to investors on Friday, September 6th. They now have an “overweight” rating on the stock. Finally, analysts at TheStreet downgraded shares of Goldcorp (NYSE:GG) from a “hold” rating to a “sell” rating in a research note to investors on Thursday, August 8th.
Two investment analysts have rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $35.93.
The company also recently declared a monthly dividend, which is scheduled for Friday, September 27th. Investors of record on Thursday, September 19th will be given a dividend of $0.05 per share. This represents a $0.60 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date of this dividend is Tuesday, September 17th.
Goldcorp Inc (NYSE:GG) 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.
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