Goldcorp Inc. (NYSE:GG) (TSE:G) had its price target lowered by equities researchers at Royal Bank Of Canada from $16.00 to $15.00 in a report issued on Tuesday. The brokerage presently has a “sector perform” rating on the basic materials company’s stock. Royal Bank Of Canada’s price objective suggests a potential upside of 16.91% from the stock’s current price.

Several other equities research analysts have also recently issued reports on GG. TD Securities reduced their target price on Goldcorp from $21.00 to $20.00 and set a “buy” rating on the stock in a report on Friday, August 4th. BidaskClub raised Goldcorp from a “sell” rating to a “hold” rating in a report on Friday. National Bank Financial cut Goldcorp from an “outperform” rating to a “sector perform” rating in a report on Monday, July 24th. Deutsche Bank AG reaffirmed a “hold” rating and issued a $15.00 target price (down from $16.00) on shares of Goldcorp in a report on Sunday, June 25th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $13.00 target price (down from $15.00) on shares of Goldcorp in a report on Friday, July 14th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $17.00.

Goldcorp (GG) traded down 0.896% during trading on Tuesday, hitting $12.715. The stock had a trading volume of 3,003,620 shares. Goldcorp has a 52-week low of $11.91 and a 52-week high of $19.00. The firm has a market cap of $11.00 billion, a P/E ratio of 23.330 and a beta of 0.02. The company has a 50-day moving average of $13.05 and a 200 day moving average of $14.40.

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Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Nomura Asset Management Co. Ltd. raised its position 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 during the period. Northwestern Mutual Wealth Management Co. raised its position 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 during the period. Highlander Capital Management LLC raised its position in shares of Goldcorp by 4.7% in the second quarter. Highlander Capital Management LLC now owns 11,125 shares of the basic materials company’s stock valued at $142,000 after buying an additional 500 shares during the period. First Allied Advisory Services Inc. acquired a new position in shares of Goldcorp during the second quarter valued at about $155,000. Finally, BB&T Securities LLC acquired a new position in shares of Goldcorp during the first quarter valued at about $161,000. Institutional investors and hedge funds own 55.88% 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.

Analyst Recommendations for Goldcorp (NYSE:GG)

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