Goldcorp Shares Gap Up After Analyst Upgrade (GG)
Shares of Goldcorp (NYSE:GG) gapped up prior to trading on Wednesday after Jefferies Group raised their price target on the stock from $19.00 to $21.00, Analyst RN reports. The stock had previously closed at $27.43, but opened at $27.68. Jefferies Group currently has an underperform rating on the stock. Goldcorp shares last traded at $28.23, with a volume of 2,478,010 shares.
GG has been the subject of a number of other recent research reports. Analysts at Deutsche Bank reiterated a “hold” rating on shares of Goldcorp in a research note on Monday. They now have a $28.00 price target on the stock, up previously from $26.00. Separately, analysts at Raymond James upgraded shares of Goldcorp from a “market perform” rating to an “outperform” rating in a research note on Friday, August 1st. They now have a $33.00 price target on the stock, up previously from $31.00. Finally, analysts at Credit Suisse raised their price target on shares of Goldcorp from $31.00 to $32.00 in a research note on Thursday, July 17th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the stock. Goldcorp currently has a consensus rating of “Hold” and an average price target of $29.96.
The stock has a 50-day moving average of $27.58 and a 200-day moving average of $25.83. The company’s market cap is $22.894 billion.
Goldcorp (NYSE:GG) last issued its quarterly earnings data on Thursday, July 31st. The company reported $0.20 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.14 by $0.06. The company had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $991.93 million. During the same quarter in the prior year, the company posted $0.14 earnings per share. The company’s quarterly revenue was up 3.8% on a year-over-year basis. Analysts expect that Goldcorp will post $0.86 EPS 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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