Goldcorp Price Target Raised to $29.00 at Morgan Stanley (GG)
Analysts at Morgan Stanley increased their price objective on shares of Goldcorp (NYSE:GG) from $26.40 to $29.00 in a research report issued to clients and investors on Tuesday. Morgan Stanley’s price target indicates a potential upside of 4.17% from the company’s current price.
Goldcorp (NYSE:GG) traded up 1.68% during mid-day trading on Tuesday, hitting $27.84. 4,334,951 shares of the company’s stock traded hands. Goldcorp has a 52-week low of $20.54 and a 52-week high of $32.15. The stock’s 50-day moving average is $25.35 and its 200-day moving average is $25.02. The company’s market cap is $22.634 billion.
Goldcorp (NYSE:GG) last posted its quarterly 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 $0.78 earnings per share for the current fiscal year.
The company also recently announced a monthly dividend, which is scheduled for Friday, July 25th. Investors of record on Thursday, July 17th will be paid a dividend of $0.05 per share. This represents a $0.60 annualized dividend and a dividend yield of 2.16%. The ex-dividend date is Tuesday, July 15th.
Several other analysts have also recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Goldcorp in a research note on Wednesday, June 4th. They now have a $24.00 price target on the stock. Separately, 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. Finally, 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. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $28.95.
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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