Goldcorp Target of Unusually High Options Trading (GG)
Goldcorp Inc. (NYSE:GG) (TSE:G) saw unusually large options trading activity on Tuesday. Stock traders bought 4,401 put options on the stock. This is an increase of 116% compared to the average daily volume of 2,038 put options.
Shares of Goldcorp (GG) opened at 13.26 on Friday. The stock’s 50 day moving average is $13.27 and its 200-day moving average is $13.69. The company has a market capitalization of $11.47 billion, a P/E ratio of 24.33 and a beta of -0.07. Goldcorp has a 12-month low of $11.91 and a 12-month high of $17.87.
The business also recently announced a quarterly dividend, which was paid on Friday, September 22nd. Investors of record on Thursday, September 14th were given a dividend of $0.02 per share. The ex-dividend date of this dividend was Wednesday, September 13th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.60%. Goldcorp’s dividend payout ratio is 14.55%.
Several research analysts recently commented on GG shares. BidaskClub downgraded shares of Goldcorp from a “sell” rating to a “strong sell” rating in a report on Saturday, June 17th. Raymond James Financial, Inc. reaffirmed a “market perform” rating and issued a $17.00 price objective on shares of Goldcorp in a 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 report on Friday, July 14th. Scotiabank set a $18.00 price objective on shares of Goldcorp and gave the stock an “outperform” rating in a report on Thursday, July 27th. Finally, Deutsche Bank AG reaffirmed a “hold” rating and issued a $15.00 price objective (down from $16.00) on shares of Goldcorp in a report on Sunday, June 25th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the company. Goldcorp currently has an average rating of “Hold” and a consensus target price of $16.66.
Several large investors have recently modified their holdings of the stock. Sentry Investment Management LLC boosted its position in shares of Goldcorp by 1.7% during the second quarter. Sentry Investment Management LLC now owns 261,113 shares of the basic materials company’s stock worth $3,371,000 after acquiring an additional 4,289 shares during the last quarter. Koch Industries Inc. bought a new position in shares of Goldcorp during the second quarter worth $163,000. Nomura Holdings Inc. boosted its position in shares of Goldcorp by 72.8% during the second quarter. Nomura Holdings Inc. now owns 166,702 shares of the basic materials company’s stock worth $2,152,000 after acquiring an additional 70,242 shares during the last quarter. Highlander Capital Management LLC boosted its position in shares of Goldcorp by 4.7% during the second quarter. Highlander Capital Management LLC now owns 11,125 shares of the basic materials company’s stock worth $142,000 after acquiring an additional 500 shares during the last quarter. Finally, IHT Wealth Management LLC bought a new position in shares of Goldcorp during the second quarter worth $1,441,000. Hedge funds and other institutional investors own 53.97% 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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