Jefferies Group LLC Analysts Give Goldcorp Inc. (GG) a $15.00 Price Target
Goldcorp Inc. (NYSE:GG) (TSE:G) has been assigned a $15.00 price target by equities research analysts at Jefferies Group LLC in a research note issued to investors on Friday. The brokerage currently has a “hold” rating on the basic materials company’s stock. Jefferies Group LLC’s price objective would indicate a potential upside of 8.07% from the stock’s current price.
Several other equities research analysts also recently commented on the stock. Royal Bank of Canada raised shares of Goldcorp from an “underperform” rating to a “sector perform” rating and boosted their target price for the stock from $15.00 to $17.00 in a research report on Thursday, March 16th. They noted that the move was a valuation call. Deutsche Bank AG boosted their target price on shares of Goldcorp from $15.50 to $16.00 and gave the stock a “hold” rating in a research report on Tuesday, March 21st. Scotiabank reissued an “outperform” rating and set a $19.00 target price on shares of Goldcorp in a research report on Thursday, April 27th. Canaccord Genuity downgraded shares of Goldcorp from a “buy” rating to a “hold” rating in a research report on Friday, February 3rd. Finally, BMO Capital Markets reissued a “hold” rating and set a $16.00 target price on shares of Goldcorp in a research report on Thursday, February 2nd. Nine research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $18.04.
Goldcorp (NYSE:GG) traded down 0.29% during trading on Friday, hitting $13.84. 10,662,045 shares of the stock were exchanged. Goldcorp has a 52 week low of $11.91 and a 52 week high of $20.38. The firm’s 50-day moving average is $14.46 and its 200 day moving average is $14.70. The firm has a market cap of $11.85 billion, a PE ratio of 47.40 and a beta of 0.12. Goldcorp also was the recipient of some unusual options trading activity on Thursday. Traders acquired 1,284 call options on the stock. This is an increase of 162% compared to the average daily volume of 490 call options.
Goldcorp (NYSE:GG) last posted its earnings results on Wednesday, April 26th. The basic materials company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.09 by $0.11. The company had revenue of $882 million during the quarter, compared to the consensus estimate of $929.91 million. Goldcorp had a negative net margin of 114.28% and a positive return on equity of 0.24%. During the same period in the previous year, the firm posted $0.10 earnings per share. Analysts expect that Goldcorp will post $0.36 earnings per share for the current fiscal year.
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Several hedge funds have recently made changes to their positions in GG. M&R Capital Management Inc. boosted its stake in shares of Goldcorp by 10.2% in the fourth quarter. M&R Capital Management Inc. now owns 7,595 shares of the basic materials company’s stock worth $103,000 after buying an additional 700 shares during the last quarter. Fore Research & Management LP acquired a new stake in shares of Goldcorp during the fourth quarter worth approximately $136,000. GSA Capital Partners LLP acquired a new stake in shares of Goldcorp during the fourth quarter worth approximately $137,000. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Goldcorp by 12.5% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 9,358 shares of the basic materials company’s stock worth $137,000 after buying an additional 1,037 shares during the last quarter. Finally, Fort Pitt Capital Group LLC acquired a new stake in shares of Goldcorp during the fourth quarter worth approximately $139,000. Institutional investors own 57.76% of the company’s stock.
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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