Goldcorp Inc. (NYSE:GG) PT Set at $18.00 by Scotiabank
Goldcorp Inc. (NYSE:GG) (TSE:G) has been given a $18.00 price target by research analysts at Scotiabank in a research note issued on Thursday. The brokerage currently has an “outperform” rating on the basic materials company’s stock. Scotiabank’s price target would suggest a potential upside of 30.53% from the stock’s current price.
A number of other brokerages also recently issued reports on GG. BidaskClub downgraded shares of Goldcorp from a “sell” rating to a “strong sell” rating in a research note on Saturday, June 17th. Raymond James Financial, Inc. reiterated a “market perform” rating and issued a $17.00 price target on shares of Goldcorp in a research note on Thursday, June 15th. Jefferies Group LLC reiterated a “hold” rating and issued a $13.00 price target (down previously from $15.00) on shares of Goldcorp in a research note on Friday, July 14th. Deutsche Bank AG reiterated a “hold” rating and issued a $15.00 price target (down previously from $16.00) on shares of Goldcorp in a research note on Sunday, June 25th. Finally, National Bank Financial downgraded shares of Goldcorp from an “outperform” rating to a “sector perform” rating in a research note on Monday. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $17.19.
Goldcorp (NYSE GG) traded down 6.74% on Thursday, hitting $12.86. 14,884,317 shares of the company traded hands. Goldcorp has a 12 month low of $11.91 and a 12 month high of $19.35. The stock’s 50-day moving average is $13.26 and its 200 day moving average is $14.61. The firm has a market capitalization of $11.01 billion, a P/E ratio of 44.04 and a beta of 0.02.
Goldcorp (NYSE:GG) (TSE:G) last issued its quarterly earnings results on Wednesday, April 26th. The basic materials company reported $0.20 earnings per share (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 during the quarter, compared to the consensus estimate of $929.91 million. During the same quarter in the previous year, the firm earned $0.10 earnings per share. Equities analysts forecast that Goldcorp will post $0.37 EPS for the current fiscal year.
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Several institutional investors have recently made changes to their positions in the stock. Tocqueville Asset Management L.P. boosted its position in shares of Goldcorp by 11.4% in the third quarter. Tocqueville Asset Management L.P. now owns 5,821,654 shares of the basic materials company’s stock worth $96,109,000 after buying an additional 595,350 shares during the last quarter. Commerzbank Aktiengesellschaft FI boosted its position in shares of Goldcorp by 13.3% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 3,189,610 shares of the basic materials company’s stock worth $61,017,000 after buying an additional 373,226 shares during the last quarter. Mckinley Capital Management LLC Delaware boosted its position in shares of Goldcorp by 24.1% in the second quarter. Mckinley Capital Management LLC Delaware now owns 1,879,709 shares of the basic materials company’s stock worth $35,959,000 after buying an additional 364,696 shares during the last quarter. Gabelli Funds LLC boosted its position in shares of Goldcorp by 0.6% in the fourth quarter. Gabelli Funds LLC now owns 3,545,000 shares of the basic materials company’s stock worth $40,980,000 after buying an additional 20,000 shares during the last quarter. Finally, CIBC Asset Management Inc boosted its position in shares of Goldcorp by 7.4% in the second quarter. CIBC Asset Management Inc now owns 8,160,433 shares of the basic materials company’s stock worth $155,483,000 after buying an additional 560,864 shares during the last quarter. 56.62% of the stock is currently owned by institutional investors and hedge funds.
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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