Traders Buy High Volume of Call Options on Goldcorp (GG)
Goldcorp (NYSE:GG) was the recipient of some unusual options trading on Monday. Stock traders bought 23,173 call options on the company, AR Network reports. This is an increase of approximately 276% compared to the average volume of 6,168 call options.
Several analysts have recently commented on the stock. Analysts at Canaccord Genuity cut their price target on shares of Goldcorp from C$34.50 to C$31.50 in a research note to investors on Monday. They now have a “buy” rating on the stock. Separately, analysts at CSFB raised their price target on shares of Goldcorp from C$22.00 to C$23.00 in a research note to investors on Monday. They now have a “neutral” rating on the stock. Finally, analysts at CIBC reiterated a “sector outperform” rating on shares of Goldcorp in a research note to investors on Friday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $29.32.
Goldcorp (NYSE:GG) traded down 0.39% on Monday, hitting $23.10. 14,327,233 shares of the company’s stock traded hands. Goldcorp has a one year low of $20.54 and a one year high of $38.61. The stock’s 50-day moving average is $21.70 and its 200-day moving average is $25.32. The company’s market cap is $18.757 billion.
Goldcorp (NYSE:GG) last posted its quarterly earnings results on Thursday, October 24th. The company reported $0.23 EPS for the quarter, beating the Thomson Reuters 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. Analysts expect that Goldcorp will post $0.92 EPS for the current fiscal year.
The company also recently declared a monthly dividend, which is scheduled for Friday, January 24th. Investors 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 2.60%. The ex-dividend date of this dividend is Tuesday, January 14th.
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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