Goldcorp Inc. (GG) Given a $17.00 Price Target at Royal Bank of Canada
Goldcorp Inc. (NYSE:GG) (TSE:G) received a $17.00 target price from analysts at Royal Bank of Canada in a research note issued on Wednesday. The brokerage currently has a “hold” rating on the basic materials company’s stock. Royal Bank of Canada’s price objective points to a potential upside of 25.46% from the company’s previous close.
Other equities research analysts have also recently issued reports about the company. Berenberg Bank set a $17.00 price objective on Goldcorp and gave the stock a “hold” rating in a report on Thursday, February 16th. TheStreet upgraded Goldcorp from a “d+” rating to a “c-” rating in a report on Friday, February 17th. Canaccord Genuity cut Goldcorp from a “buy” rating to a “hold” rating in a report on Friday, February 3rd. BMO Capital Markets reiterated a “hold” rating and issued a $16.00 price objective on shares of Goldcorp in a report on Thursday, February 2nd. Finally, Deutsche Bank AG lifted their price objective on Goldcorp from $15.50 to $16.00 and gave the stock a “hold” rating in a report on Tuesday, March 21st. Nine research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $18.04.
Goldcorp (NYSE:GG) traded down 1.02% during mid-day trading on Wednesday, reaching $13.55. The company’s stock had a trading volume of 4,794,790 shares. The stock has a 50-day moving average price of $14.35 and a 200-day moving average price of $14.65. The company has a market capitalization of $11.60 billion, a price-to-earnings ratio of 46.40 and a beta of 0.12. Goldcorp has a one year low of $11.91 and a one year high of $20.38.
Goldcorp (NYSE:GG) last posted its earnings results on Wednesday, April 26th. The basic materials company reported $0.20 EPS for the quarter, beating the Zacks’ consensus estimate of $0.09 by $0.11. Goldcorp had a positive return on equity of 0.24% and a negative net margin of 114.28%. The firm had revenue of $882 million for the quarter, compared to analysts’ expectations of $929.91 million. During the same period last year, the firm earned $0.10 EPS. Equities research analysts forecast that Goldcorp will post $0.36 EPS for the current year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FMR LLC raised its position in Goldcorp by 163.8% in the first quarter. FMR LLC now owns 17,612,338 shares of the basic materials company’s stock worth $256,931,000 after buying an additional 10,937,064 shares during the period. Van ECK Associates Corp raised its position in Goldcorp by 8.1% in the fourth quarter. Van ECK Associates Corp now owns 55,191,889 shares of the basic materials company’s stock worth $750,610,000 after buying an additional 4,140,071 shares during the period. Norges Bank acquired a new position in Goldcorp during the fourth quarter worth $47,040,000. Artisan Partners Limited Partnership raised its position in Goldcorp by 28.3% in the fourth quarter. Artisan Partners Limited Partnership now owns 15,165,659 shares of the basic materials company’s stock worth $206,253,000 after buying an additional 3,343,442 shares during the period. Finally, 1832 Asset Management L.P. raised its position in Goldcorp by 137.2% in the third quarter. 1832 Asset Management L.P. now owns 5,614,505 shares of the basic materials company’s stock worth $92,668,000 after buying an additional 3,247,190 shares during the period. 57.76% of the stock is currently owned by institutional investors and hedge funds.
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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