Citigroup Inc. Reiterates “Neutral” Rating for Goldcorp Inc. (GG)
Goldcorp Inc. (NYSE:GG)‘s stock had its “neutral” rating restated by Citigroup Inc. in a research report issued on Monday.
Other equities research analysts have also issued reports about the stock. BMO Capital Markets reissued a “buy” rating and set a $23.00 price objective on shares of Goldcorp in a report on Thursday, July 28th. Zacks Investment Research raised shares of Goldcorp from a “hold” rating to a “buy” rating and set a $22.00 price objective on the stock in a report on Tuesday, July 12th. HSBC reissued a “buy” rating on shares of Goldcorp in a report on Thursday, July 7th. Desjardins raised shares of Goldcorp from a “hold” rating to a “buy” rating in a report on Wednesday, June 22nd. Finally, Vetr lowered shares of Goldcorp from a “strong-buy” rating to a “buy” rating and set a $21.00 price objective on the stock. in a report on Wednesday, August 10th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $19.59.
Shares of Goldcorp (NYSE:GG) traded up 1.12% during midday trading on Monday, reaching $14.47. The company’s stock had a trading volume of 1,418,935 shares. The firm’s market capitalization is $12.34 billion. The stock has a 50-day moving average of $15.67 and a 200 day moving average of $17.42. Goldcorp has a 12-month low of $9.46 and a 12-month high of $20.38.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/17/citigroup-inc-reiterates-neutral-rating-for-goldcorp-inc-gg.html
Goldcorp (NYSE:GG) last released its quarterly earnings results on Wednesday, July 27th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by $0.12. Goldcorp had a negative return on equity of 0.71% and a negative net margin of 115.33%. The firm earned $921 million during the quarter, compared to analysts’ expectations of $882.55 million. During the same period in the prior year, the firm posted $0.08 earnings per share. Goldcorp’s revenue for the quarter was down 30.1% compared to the same quarter last year. Equities research analysts predict that Goldcorp will post $0.37 EPS for the current fiscal year.
Hedge funds have recently made changes to their positions in the stock. NN Investment Partners Holdings N.V. acquired a new stake in shares of Goldcorp during the first quarter valued at about $739,000. Credit Agricole S A boosted its stake in shares of Goldcorp by 25.4% in the first quarter. Credit Agricole S A now owns 3,036,082 shares of the company’s stock valued at $49,275,000 after buying an additional 615,534 shares in the last quarter. Canada Pension Plan Investment Board boosted its stake in shares of Goldcorp by 412,000.0% in the first quarter. Canada Pension Plan Investment Board now owns 41,210 shares of the company’s stock valued at $671,000 after buying an additional 41,200 shares in the last quarter. Edmond DE Rothschild Holding S.A. boosted its stake in shares of Goldcorp by 20.5% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 263,917 shares of the company’s stock valued at $4,290,000 after buying an additional 44,810 shares in the last quarter. Finally, AXA boosted its stake in shares of Goldcorp by 61.6% in the first quarter. AXA now owns 389,758 shares of the company’s stock valued at $6,349,000 after buying an additional 148,570 shares in the last quarter. 60.48% of the stock is owned by institutional investors.
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.
Receive News & Ratings for Goldcorp Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Goldcorp Inc. and related companies with MarketBeat.com's FREE daily email newsletter.