Goldcorp Inc. (NYSE:GG) Expected to Announce Quarterly Sales of $862.64 Million
Brokerages expect Goldcorp Inc. (NYSE:GG) (TSE:G) to post $862.64 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Goldcorp’s earnings, with the highest sales estimate coming in at $907.01 million and the lowest estimate coming in at $818.27 million. Goldcorp posted sales of $753.00 million during the same quarter last year, which suggests a positive year-over-year growth rate of 14.6%. The company is scheduled to announce its next earnings report after the market closes on Wednesday, July 26th.
According to Zacks, analysts expect that Goldcorp will report full year sales of $862.64 million for the current financial year, with estimates ranging from $3.11 billion to $3.60 billion. For the next financial year, analysts expect that the business will report sales of $3.42 billion per share, with estimates ranging from $3.07 billion to $3.67 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow Goldcorp.
Goldcorp (NYSE:GG) (TSE:G) last issued its quarterly earnings data on Wednesday, April 26th. The basic materials company reported $0.20 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate 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 net margin of 7.31% and a return on equity of 2.72%. During the same period last year, the company posted $0.10 earnings per share.
A number of research firms recently commented on GG. Morgan Stanley reaffirmed an “overweight” rating on shares of Goldcorp in a research report on Friday. Royal Bank Of Canada set a $16.00 target price on shares of Goldcorp and gave the company a “hold” rating in a research report on Tuesday, July 18th. BidaskClub raised shares of Goldcorp from a “sell” rating to a “hold” rating in a research report on Tuesday, July 18th. Jefferies Group LLC reiterated a “hold” rating and set a $13.00 price target (down previously from $15.00) on shares of Goldcorp in a research note on Friday, July 14th. Finally, Zacks Investment Research cut shares of Goldcorp from a “hold” rating to a “sell” rating in a research note on Friday, July 14th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $17.27.
A number of hedge funds and other institutional investors have recently made changes to their positions in GG. First Interstate Bank raised its stake in shares of Goldcorp by 1.2% in the first quarter. First Interstate Bank now owns 12,750 shares of the basic materials company’s stock worth $186,000 after buying an additional 150 shares during the period. Lowe Wealth Advisors LLC raised its stake in Goldcorp by 0.4% in the second quarter. Lowe Wealth Advisors LLC now owns 68,067 shares of the basic materials company’s stock valued at $879,000 after buying an additional 272 shares during the last quarter. Winslow Evans & Crocker Inc. raised its stake in Goldcorp by 1.3% in the first quarter. Winslow Evans & Crocker Inc. now owns 24,252 shares of the basic materials company’s stock valued at $354,000 after buying an additional 312 shares during the last quarter. Regal Investment Advisors LLC raised its stake in Goldcorp by 2.8% in the first quarter. Regal Investment Advisors LLC now owns 15,377 shares of the basic materials company’s stock valued at $224,000 after buying an additional 417 shares during the last quarter. Finally, Headinvest LLC raised its stake in Goldcorp by 1.8% in the first quarter. Headinvest LLC now owns 27,809 shares of the basic materials company’s stock valued at $406,000 after buying an additional 500 shares during the last quarter. 56.71% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Goldcorp (GG) opened at 13.72 on Friday. The firm has a 50-day moving average of $13.27 and a 200 day moving average of $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 P/E ratio of 46.99 and a beta of 0.02. Goldcorp also was the recipient of some unusual options trading activity on Thursday. Traders bought 13,951 put options on the company. This is an increase of 166% compared to the average volume of 5,252 put options.
The business also recently announced a quarterly dividend, which was paid on Friday, June 23rd. Investors of record on Thursday, June 15th were given a $0.02 dividend. The ex-dividend date of this dividend was Tuesday, June 13th. This represents a $0.08 annualized dividend and a dividend yield of 0.58%. Goldcorp’s dividend payout ratio is presently 26.67%.
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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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