National Bank Financial Lowers Goldcorp Inc. (NYSE:GG) to Sector Perform
Goldcorp Inc. (NYSE:GG) (TSE:G) was downgraded by equities researchers at National Bank Financial from an “outperform” rating to a “sector perform” rating in a research note issued on Monday, MarketBeat reports.
GG has been the topic of a number of other reports. BidaskClub cut shares of Goldcorp from a “sell” rating to a “strong sell” rating in a research report on Saturday, June 17th. Raymond James Financial, Inc. reissued a “market perform” rating and set a $17.00 price target on shares of Goldcorp in a research report on Thursday, June 15th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $13.00 price objective (down from $15.00) on shares of Goldcorp in a research report on Friday, July 14th. Deutsche Bank AG reaffirmed a “hold” rating and issued a $15.00 price objective (down from $16.00) on shares of Goldcorp in a research report on Sunday, June 25th. Finally, TD Securities reaffirmed a “buy” rating on shares of Goldcorp in a research report on Thursday, June 15th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $17.27.
Shares of Goldcorp (NYSE:GG) traded down 1.421% during midday trading on Monday, hitting $13.525. The stock had a trading volume of 4,474,392 shares. The firm has a market cap of $11.58 billion, a price-to-earnings ratio of 46.318 and a beta of 0.02. Goldcorp has a 12-month low of $11.91 and a 12-month high of $19.35. The company’s 50-day moving average price is $13.27 and its 200-day moving average price is $14.64.
Goldcorp (NYSE:GG) (TSE:G) last posted its earnings results on Wednesday, April 26th. The basic materials company reported $0.20 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.09 by $0.11. Goldcorp had a net margin of 7.31% and a return on equity of 2.72%. The firm had revenue of $882 million for the quarter, compared to the consensus estimate of $929.91 million. During the same period in the prior year, the business posted $0.10 earnings per share. Equities research analysts forecast that Goldcorp will post $0.37 EPS for the current year.
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A number of hedge funds have recently bought and sold shares of the company. Nomura Asset Management Co. Ltd. increased its stake 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 worth $123,000 after buying an additional 3,000 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in 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. GSA Capital Partners LLP bought a new stake in Goldcorp during the fourth quarter worth about $137,000. First Financial Equity Corporation bought a new stake in Goldcorp during the first quarter worth about $162,000. Finally, BB&T Securities LLC bought a new stake in Goldcorp during the first quarter worth about $161,000. Institutional investors and hedge funds own 56.62% 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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