Goldcorp Now Covered by Canaccord Genuity (GG)
Investment analysts at Canaccord Genuity assumed coverage on shares of Goldcorp (NYSE:GG) in a note issued to investors on Thursday, TheFlyOnTheWall.com reports. The firm set a “buy” rating on the stock.
Goldcorp (NYSE:GG) traded up 3.95% on Thursday, hitting $26.61. 4,118,886 shares of the company’s stock traded hands. 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 $28.77 and a 200-day moving average of $28.88. The company’s market cap is $21.607 billion.
Goldcorp (NYSE:GG) last posted its quarterly earnings results on Thursday, October 24th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.03. The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the previous year, the company posted $0.54 earnings per share. The company’s revenue for the quarter was down 6.4% on a year-over-year basis. On average, analysts predict that Goldcorp will post $0.95 earnings per share for the current fiscal year.
The company also recently announced a monthly dividend, which is scheduled for Friday, October 25th. Stockholders 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 2.34%. The ex-dividend date is Tuesday, October 15th.
GG has been the subject of a number of other recent research reports. Analysts at HSBC upgraded shares of Goldcorp from a “neutral” rating to an “overweight” rating in a research note to investors on Monday. Separately, 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. Finally, 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. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $33.64.
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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