Goldcorp Inc. (GG) Rating Reiterated by Citigroup Inc.
Goldcorp Inc. (NYSE:GG)‘s stock had its “neutral” rating reaffirmed by equities researchers at Citigroup Inc. in a research report issued on Monday.
A number of other research analysts also recently issued reports on GG. HSBC restated a “buy” rating on shares of Goldcorp in a report on Thursday, July 7th. Jefferies Group boosted their price target on Goldcorp from $17.00 to $20.00 and gave the company a “hold” rating in a report on Thursday, July 14th. Deutsche Bank AG upgraded Goldcorp from a “sell” rating to a “hold” rating and boosted their price target for the company from $15.00 to $16.00 in a report on Monday, October 3rd. Zacks Investment Research downgraded Goldcorp from a “buy” rating to a “hold” rating in a report on Wednesday, June 29th. Finally, Vetr upgraded 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. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $19.59.
Shares of Goldcorp (NYSE:GG) traded up 1.61% on Monday, reaching $14.54. The company’s stock had a trading volume of 4,538,609 shares. The company’s market cap is $12.40 billion. The company’s 50 day moving average price is $15.67 and its 200 day moving average price is $17.42. Goldcorp has a 12-month low of $9.46 and a 12-month high of $20.38.
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Goldcorp (NYSE:GG) last released its quarterly earnings data on Wednesday, July 27th. The company reported ($0.09) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by $0.12. The company 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 firm’s quarterly revenue was down 30.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.08 EPS. Analysts forecast that Goldcorp will post $0.37 EPS for the current fiscal year.
Several institutional investors have recently added to or reduced their stakes in GG. P.R. Herzig & Co. Inc. boosted its position in Goldcorp by 48.8% in the third quarter. P.R. Herzig & Co. Inc. now owns 56,850 shares of the company’s stock valued at $939,000 after buying an additional 18,650 shares during the last quarter. Lowe fs LLC raised its stake in Goldcorp by 2.0% in the third quarter. Lowe fs LLC now owns 68,177 shares of the company’s stock valued at $1,126,000 after buying an additional 1,351 shares during the period. Howland Capital Management LLC raised its stake in Goldcorp by 2.3% in the third quarter. Howland Capital Management LLC now owns 268,545 shares of the company’s stock valued at $4,436,000 after buying an additional 5,985 shares during the period. MSI Financial Services Inc raised its stake in Goldcorp by 9.6% in the third quarter. MSI Financial Services Inc now owns 8,596 shares of the company’s stock valued at $142,000 after buying an additional 750 shares during the period. Finally, Capstone Asset Management Co. raised its stake in Goldcorp by 2.9% in the third quarter. Capstone Asset Management Co. now owns 80,489 shares of the company’s stock valued at $1,330,000 after buying an additional 2,240 shares during the period. 60.48% 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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