Goldcorp Inc. (GG) Expected to Earn FY2017 Earnings of $0.41 Per Share
Goldcorp Inc. (NYSE:GG) (TSE:G) – Analysts at Jefferies Group increased their FY2017 earnings per share (EPS) estimates for shares of Goldcorp in a research report issued on Thursday. Jefferies Group analyst C. Lafemina now anticipates that the basic materials company will post earnings per share of $0.41 for the year, up from their prior estimate of $0.38. Jefferies Group currently has a “Hold” rating and a $13.00 target price on the stock. Jefferies Group also issued estimates for Goldcorp’s FY2018 earnings at $0.49 EPS and FY2019 earnings at $0.66 EPS.
A number of other analysts have also weighed in on the company. Zacks Investment Research lowered Goldcorp from a “hold” rating to a “sell” rating in a research report on Friday, July 14th. Macquarie raised Goldcorp from a “neutral” rating to an “outperform” rating in a research report on Wednesday, July 12th. Morgan Stanley reaffirmed an “overweight” rating on shares of Goldcorp in a research report on Friday, July 21st. BidaskClub raised Goldcorp from a “sell” rating to a “hold” rating in a research report on Tuesday, July 18th. Finally, TD Securities reaffirmed a “buy” rating on shares of Goldcorp in a research report on Thursday, June 15th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $16.66.
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The business also recently disclosed a quarterly dividend, which was paid on Friday, September 22nd. Shareholders of record on Thursday, September 14th were paid a $0.02 dividend. The ex-dividend date of this dividend was Wednesday, September 13th. This represents a $0.08 annualized dividend and a yield of 0.60%. Goldcorp’s dividend payout ratio is presently 14.55%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. IHT Wealth Management LLC acquired a new position in Goldcorp in the second quarter valued at $1,441,000. Nomura Asset Management Co. Ltd. boosted 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 valued at $123,000 after acquiring an additional 3,000 shares in the last quarter. First Financial Equity Corporation acquired a new position in Goldcorp in the first quarter valued at $162,000. BB&T Securities LLC acquired a new position in Goldcorp in the first quarter valued at $161,000. Finally, Highlander Capital Management LLC boosted its stake in 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 acquiring an additional 500 shares in the last quarter. 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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