Goldcorp’s (GG) Overweight Rating Reaffirmed at Morgan Stanley
Goldcorp Inc. (NYSE:GG) (TSE:G)‘s stock had its “overweight” rating reissued by equities research analysts at Morgan Stanley in a note issued to investors on Friday.
Several other equities analysts also recently weighed in on the company. BidaskClub raised Goldcorp from a “sell” rating to a “hold” rating in a research report on Tuesday. Macquarie raised Goldcorp from a “neutral” rating to an “outperform” rating in a research report on Wednesday, July 12th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $13.00 target price (down from $15.00) on shares of Goldcorp in a research report on Friday, July 14th. Zacks Investment Research cut Goldcorp from a “hold” rating to a “sell” rating in a research note on Friday, July 14th. Finally, Royal Bank Of Canada set a $16.00 price objective on Goldcorp and gave the company a “hold” rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $17.27.
Goldcorp (NYSE:GG) traded up 0.29% during trading on Friday, hitting $13.66. 3,097,169 shares of the stock traded hands. Goldcorp has a 52-week low of $11.91 and a 52-week high of $19.35. The stock has a market cap of $11.69 billion, a P/E ratio of 46.78 and a beta of 0.02. The stock has a 50 day moving average price of $13.27 and a 200-day moving average price of $14.64. Goldcorp also saw some unusual options trading on Thursday. Investors acquired 13,951 put options on the company. This represents an increase of approximately 166% compared to the typical daily volume of 5,252 put options.
Goldcorp (NYSE:GG) (TSE:G) last announced its quarterly earnings data on Wednesday, April 26th. The basic materials company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.11. The company had revenue of $882 million for the quarter, compared to analyst estimates of $929.91 million. Goldcorp had a return on equity of 2.72% and a net margin of 7.31%. During the same quarter last year, the firm posted $0.10 EPS. On average, analysts anticipate that Goldcorp will post $0.37 EPS for the current fiscal year.
Several hedge funds have recently modified their holdings of the stock. Nomura Asset Management Co. Ltd. increased its stake in shares of 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 valued at 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 valued at $137,000 after buying an additional 1,037 shares in the last quarter. BB&T Securities LLC bought a new stake in shares of Goldcorp during the first quarter valued at about $161,000. Finally, First Financial Equity Corporation bought a new stake in shares of Goldcorp during the first quarter valued at about $162,000. Institutional investors and hedge funds own 56.71% 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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