Analysts Expect Goldcorp Inc. (GG) Will Post Earnings of $0.10 Per Share
Analysts forecast that Goldcorp Inc. (NYSE:GG) (TSE:G) will announce earnings per share of $0.10 for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Goldcorp’s earnings, with the highest EPS estimate coming in at $0.14 and the lowest estimate coming in at $0.07. Goldcorp reported earnings per share of ($0.01) during the same quarter last year, which would suggest a positive year over year growth rate of 1,100%. The company is scheduled to issue its next quarterly earnings report after the market closes on Wednesday, July 26th.
On average, analysts expect that Goldcorp will report full year earnings of $0.36 per share for the current year, with EPS estimates ranging from $0.26 to $0.50. For the next financial year, analysts expect that the business will report earnings of $0.49 per share, with EPS estimates ranging from $0.34 to $0.67. Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that cover Goldcorp.
Goldcorp (NYSE:GG) (TSE:G) last released its earnings results on Wednesday, April 26th. The basic materials company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.11. Goldcorp had a net margin of 7.31% and a return on equity of 2.72%. The company had revenue of $882 million for the quarter, compared to analysts’ expectations of $929.91 million. During the same quarter last year, the business earned $0.10 EPS.
GG has been the topic of several recent research reports. Scotiabank restated an “outperform” rating and issued a $19.00 price objective on shares of Goldcorp in a research report on Thursday, April 27th. Morgan Stanley restated an “overweight” rating and issued a $17.00 price objective on shares of Goldcorp in a research report on Monday, May 1st. TD Securities restated a “buy” rating on shares of Goldcorp in a research report on Thursday, June 15th. Jefferies Group LLC set a $15.00 price objective on Goldcorp and gave the stock a “hold” rating in a research report on Friday, May 19th. Finally, Barclays PLC restated an “overweight” rating and issued a $18.00 price objective (down previously from $19.00) on shares of Goldcorp in a research report on Thursday, June 1st. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $17.27.
Goldcorp (NYSE GG) traded up 0.73% during midday trading on Friday, reaching $13.72. 6,804,415 shares of the company’s stock were exchanged. The firm’s 50 day moving average is $13.27 and its 200 day moving average is $14.64. Goldcorp has a 52 week low of $11.91 and a 52 week high of $19.35. The firm has a market capitalization of $11.74 billion, a price-to-earnings ratio of 46.99 and a beta of 0.02. Goldcorp also was the target of unusually large options trading on Thursday. Stock traders bought 13,951 put options on the stock. This represents an increase of approximately 166% compared to the typical daily volume of 5,252 put options.
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 23rd. Investors of record on Thursday, June 15th were paid a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.58%. The ex-dividend date was Tuesday, June 13th. Goldcorp’s dividend payout ratio is currently 26.67%.
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Hedge funds and other institutional investors have recently bought and sold shares of the stock. Nomura Asset Management Co. Ltd. increased its position in Goldcorp by 55.6% in the first quarter. Nomura Asset Management Co. Ltd. now owns 8,400 shares of the basic materials company’s stock valued at $123,000 after buying an additional 3,000 shares in the last quarter. GSA Capital Partners LLP bought a new stake in shares of Goldcorp during the fourth quarter worth about $137,000. Northwestern Mutual Wealth Management Co. increased 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 period. BB&T Securities LLC bought a new stake in shares of Goldcorp during the first quarter worth about $161,000. Finally, First Financial Equity Corporation bought a new stake in shares of Goldcorp during the first quarter worth about $162,000. 56.71% of the stock is 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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