Goldcorp Inc. (GG) Shares Up 3.2%
Shares of Goldcorp Inc. (NYSE:GG) shot up 3.2% during mid-day trading on Wednesday . The company traded as high as $16.41 and last traded at $16.23, with a volume of 4,379,986 shares trading hands. The stock had previously closed at $15.73.
A number of brokerages have issued reports on GG. Vetr upgraded shares of Goldcorp from a “buy” rating to a “strong-buy” rating and set a $21.00 price target on the stock in a report on Wednesday, August 17th. Citigroup Inc. began coverage on shares of Goldcorp in a report on Tuesday, August 2nd. They issued a “neutral” rating and a $20.00 price target on the stock. Desjardins downgraded shares of Goldcorp from a “buy” rating to a “hold” rating in a report on Wednesday, July 13th. TD Securities reiterated a “hold” rating and issued a $23.00 price target on shares of Goldcorp in a report on Monday, July 25th. Finally, Zacks Investment Research upgraded shares of Goldcorp from a “hold” rating to a “buy” rating and set a $22.00 price target on the stock in a report on Tuesday, July 12th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $19.36.
The company’s market capitalization is $14.36 billion. The stock’s 50 day moving average is $17.04 and its 200-day moving average is $17.55.
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Goldcorp (NYSE:GG) last posted its quarterly earnings results on Wednesday, July 27th. The company reported ($0.09) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by $0.12. The business earned $921 million during the quarter, compared to analysts’ expectations of $882.55 million. Goldcorp had a negative return on equity of 0.71% and a negative net margin of 115.33%. The business’s quarterly revenue was down 30.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.08 earnings per share. Equities analysts anticipate that Goldcorp Inc. will post $0.36 earnings per share for the current year.
Several institutional investors have recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. increased its position in Goldcorp by 7.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 6,779 shares of the company’s stock valued at $130,000 after buying an additional 496 shares in the last quarter. Smith Affiliated Capital Corp. increased its position in Goldcorp by 95.7% in the second quarter. Smith Affiliated Capital Corp. now owns 6,900 shares of the company’s stock valued at $132,000 after buying an additional 3,374 shares in the last quarter. M&R Capital Management Inc. acquired a new position in Goldcorp during the second quarter valued at $137,000. Seven Eight Capital LLC acquired a new position in Goldcorp during the second quarter valued at $176,000. Finally, Highlander Capital Management LLC increased its position in Goldcorp by 27.0% in the second quarter. Highlander Capital Management LLC now owns 9,400 shares of the company’s stock valued at $180,000 after buying an additional 2,000 shares in the last quarter. 60.40% of the stock is currently owned by hedge funds and other institutional investors.
Goldcorp Company Profile
Goldcorp Inc 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. The Company is engaged in the sale of gold, silver, lead, zinc and copper. The Company’s segments include Red Lake Gold Mines Ontario Partnership (Red Lake), Goldcorp Canada Ltd./Goldcorp Inc (Porcupine), Musselwhite, Les Mines Opinaca Ltee (Eleonore), Minera Penasquito SA de C.V.
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