Goldcorp Price Target Lowered to $32.00 at BMO Capital Markets (GG)
Equities research analysts at BMO Capital Markets cut their price objective on shares of Goldcorp (NYSE:GG) from $37.00 to $32.00 in a research note issued to investors on Friday, Analyst Ratings Net reports. BMO Capital Markets’ price objective indicates a potential upside of 42.79% from the stock’s previous close.
Goldcorp (NYSE:GG) last released its earnings data 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 prior year, the company posted $0.54 earnings per share. The company’s quarterly revenue was down 6.4% on a year-over-year basis.
The company also recently declared a monthly dividend, which is scheduled for Friday, January 24th. Stockholders of record on Thursday, January 16th will be given a dividend of 0.05 per share. This represents a $0.60 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date of this dividend is Tuesday, January 14th.
Several other analysts have also recently commented on the stock. Analysts at Scotiabank reiterated a “sector outperform” rating on shares of Goldcorp in a research note to investors on Thursday. Separately, analysts at Barclays cut their price target on shares of Goldcorp from $34.00 to $32.00 in a research note to investors on Thursday. They now have an “overweight” rating on the stock. Finally, analysts at RBC Capital cut their price target on shares of Goldcorp from $32.00 to $30.00 in a research note to investors on Wednesday. They now have an “outperform” rating on the stock. One analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the company’s stock. Goldcorp currently has an average rating of “Buy” and a consensus target price of $29.90.
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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