Goldcorp Inc. (NYSE:GG) (TSE:G) has been assigned a $16.00 target price by research analysts at Royal Bank Of Canada in a research report issued on Tuesday. The firm currently has a “hold” rating on the basic materials company’s stock. Royal Bank Of Canada’s price target suggests a potential upside of 19.31% from the company’s current price.

Other equities research analysts also recently issued research reports about the company. BidaskClub raised Goldcorp from a “sell” rating to a “hold” rating in a report on Tuesday. Scotiabank reaffirmed an “outperform” rating and set a $19.00 price target on shares of Goldcorp in a report on Thursday, April 27th. Jefferies Group LLC reaffirmed a “hold” rating and set a $13.00 price target (down previously from $15.00) on shares of Goldcorp in a report on Friday. Macquarie raised Goldcorp from a “neutral” rating to an “outperform” rating in a report on Wednesday, July 12th. Finally, Zacks Investment Research downgraded Goldcorp from a “hold” rating to a “sell” rating in a report on Friday. One analyst has rated the stock with a sell rating, ten have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Goldcorp presently has a consensus rating of “Hold” and an average target price of $17.27.

Shares of Goldcorp (NYSE GG) traded up 1.75% during mid-day trading on Tuesday, hitting $13.41. 9,212,261 shares of the stock were exchanged. The company has a market capitalization of $11.48 billion, a PE ratio of 45.92 and a beta of 0.02. The firm has a 50-day moving average price of $13.63 and a 200 day moving average price of $14.62. Goldcorp has a 12-month low of $11.91 and a 12-month high of $19.42.

Goldcorp (NYSE:GG) (TSE:G) last announced its quarterly earnings results on Wednesday, April 26th. The basic materials company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.11. Goldcorp had a return on equity of 2.72% and a net margin of 7.31%. The business had revenue of $882 million during the quarter, compared to the consensus estimate of $929.91 million. During the same quarter last year, the firm posted $0.10 EPS. On average, equities research analysts expect that Goldcorp will post $0.37 earnings per share for the current year.

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Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Van ECK Associates Corp boosted its position in Goldcorp by 5.6% in the first quarter. Van ECK Associates Corp now owns 58,304,591 shares of the basic materials company’s stock worth $850,663,000 after buying an additional 3,112,702 shares in the last quarter. Vanguard Group Inc. boosted its position in Goldcorp by 4.4% in the first quarter. Vanguard Group Inc. now owns 19,361,683 shares of the basic materials company’s stock worth $282,487,000 after buying an additional 814,810 shares in the last quarter. FMR LLC boosted 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 in the last quarter. TD Asset Management Inc. boosted its position in Goldcorp by 4.3% in the first quarter. TD Asset Management Inc. now owns 16,363,749 shares of the basic materials company’s stock worth $238,040,000 after buying an additional 681,367 shares in the last quarter. Finally, Artisan Partners Limited Partnership boosted its position in Goldcorp by 1.6% in the first quarter. Artisan Partners Limited Partnership now owns 15,412,581 shares of the basic materials company’s stock worth $224,870,000 after buying an additional 246,922 shares in the last quarter. Hedge funds and other institutional investors own 56.71% of the company’s stock.

About Goldcorp

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.

Analyst Recommendations for Goldcorp (NYSE:GG)

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