Goldcorp Target of Unusually High Options Trading (GG)
Shares of Goldcorp (NYSE:GG) was the recipient of unusually large options trading on Wednesday. Stock traders acquired 9,510 put options on the company, American Banking News.com reports. This represents an increase of 198% compared to the typical volume of 3,190 put options.
GG has been the subject of a number of recent research reports. Analysts at Goldman Sachs Group Inc. initiated coverage on shares of Goldcorp in a research note to investors on Friday, September 20th. They set a “buy” rating and a $34.00 price target on the stock. Separately, analysts at Zacks upgraded shares of Goldcorp 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. Finally, analysts at Barclays cut their price target on shares of Goldcorp 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. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $35.82.
Shares of Goldcorp (NYSE:GG) traded down 1.62% during mid-day trading on Wednesday, hitting $23.64. The stock had a trading volume of 5,844,889 shares. Goldcorp has a 52-week low of $22.22 and a 52-week high of $45.53. The stock has a 50-day moving average of $26.66 and a 200-day moving average of $27.69. The company’s market cap is $19.196 billion.
Goldcorp (NYSE:GG) last announced its earnings results on Thursday, July 25th. The company reported $0.14 earnings per share (EPS) for the quarter, missing the 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 in the previous year, the company posted $0.41 earnings per share. The company’s revenue for the quarter was down 17.8% on a year-over-year basis. Analysts expect that Goldcorp will post $0.95 EPS for the current fiscal year.
The company also recently announced a monthly dividend, which is scheduled for Friday, October 25th. Investors of record on Thursday, October 17th will be paid a dividend of $0.05 per share. This represents a $0.60 annualized dividend and a dividend yield of 2.54%. The ex-dividend date is Tuesday, October 15th.
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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