Goldcorp Receives “Neutral” Rating from Zacks (GG)
Goldcorp (NYSE:GG)‘s stock had its “neutral” rating reaffirmed by Zacks in a research report issued to clients and investors on Wednesday. They currently have a $24.00 price objective on the stock. Zacks‘s price objective would suggest a potential upside of 5.17% from the stock’s previous close.
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 on Friday, May 2nd. They now have a $25.00 price target on the stock, down previously from $26.00. Separately, analysts at Cowen and Company cut their price target on shares of Goldcorp from $21.98 to $20.61 in a research note on Friday, May 2nd. Finally, analysts at HSBC cut their price target on shares of Goldcorp from $28.35 to $27.80 in a research note on Thursday, April 24th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the stock. Goldcorp has a consensus rating of “Hold” and a consensus target price of $27.99.
Shares of Goldcorp (NYSE:GG) traded up 0.79% during mid-day trading on Wednesday, hitting $23.00. The stock had a trading volume of 2,531,418 shares. Goldcorp has a one year low of $20.54 and a one year high of $32.15. The stock’s 50-day moving average is $24.39 and its 200-day moving average is $24.31. The company’s market cap is $18.699 billion. Goldcorp also was the recipient of a large decrease in short interest in the month of May. As of May 15th, there was short interest totalling 7,857,759 shares, a decrease of 24.3% from the April 30th total of 10,384,811 shares. Based on an average daily trading volume, of 3,348,264 shares, the days-to-cover ratio is presently 2.3 days. Approximately 1.0% of the company’s stock are short sold.
Goldcorp (NYSE:GG) last announced its earnings results on Thursday, May 1st. The company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.12. The company had revenue of $1.23 million for the quarter, compared to the consensus estimate of $963.45 million. During the same quarter in the previous year, the company posted $0.31 earnings per share. The company’s revenue for the quarter was up .7% on a year-over-year basis. On average, analysts predict that Goldcorp will post $0.75 earnings per share for the current fiscal year.
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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