Goldcorp Given New $31.00 Price Target at CIBC (GG)
CIBC reduced their price objective on shares of Goldcorp (NYSE:GG) to $31.00 in a research note issued on Friday, ARN reports. The firm currently has a “sector outperform” rating on the stock. CIBC’s target price points to a potential upside of 15.93% from the company’s current price.
Goldcorp (NYSE:GG) opened at 26.74 on Friday. Goldcorp has a one year low of $22.22 and a one year high of $47.42. The stock’s 50-day moving average is $28.77 and its 200-day moving average is $28.88. The company’s market cap is $21.713 billion.
Goldcorp (NYSE:GG) last announced its earnings results on Thursday, October 24th. The company reported $0.23 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.54 earnings per share. Goldcorp’s revenue was down 6.4% compared to the same quarter last year. On average, analysts predict that Goldcorp will post $0.96 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Deutsche Bank reiterated a “hold” rating on shares of Goldcorp in a research note to investors on Friday. They now have a $27.00 price target on the stock. Separately, analysts at TD Securities cut their price target on shares of Goldcorp from C$35.00 to C$33.00 in a research note to investors on Friday. They now have a “buy” rating on the stock. Finally, analysts at Canaccord Genuity initiated coverage on shares of Goldcorp in a research note to investors on Thursday. They set a “buy” rating and a $33.50 price target on the stock. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the stock. Goldcorp has an average rating of “Hold” and a consensus price target of $31.50.
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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