Goldcorp Inc. (NYSE:GG) (TSE:G) had its target price cut by equities researchers at Scotiabank from $18.00 to $17.00 in a report released on Monday. The brokerage presently has an “outperform” rating on the basic materials company’s stock. Scotiabank’s target price would indicate a potential upside of 27.06% from the stock’s current price.

GG has been the topic of several other reports. National Bank Financial upgraded Goldcorp from a “sector perform” rating to an “outperform” rating in a research report on Thursday. Royal Bank Of Canada set a $15.00 price target on Goldcorp and gave the stock a “hold” rating in a research report on Monday, October 23rd. Jefferies Group LLC set a $13.00 price target on Goldcorp and gave the stock a “hold” rating in a research report on Tuesday, August 15th. Zacks Investment Research lowered Goldcorp from a “hold” rating to a “sell” rating in a research report on Friday, July 14th. Finally, BidaskClub lowered Goldcorp from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $16.58.

Shares of Goldcorp (GG) traded up 2.14% during midday trading on Monday, hitting $13.38. The stock had a trading volume of 6,396,810 shares. Goldcorp has a 52 week low of $11.91 and a 52 week high of $17.87. The stock has a market capitalization of $11.57 billion, a price-to-earnings ratio of 24.55 and a beta of -0.07. The stock has a 50 day moving average price of $13.14 and a 200-day moving average price of $13.41.

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Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Lowe Wealth Advisors LLC raised its stake in shares of Goldcorp by 0.4% in the 2nd quarter. Lowe Wealth Advisors LLC now owns 68,067 shares of the basic materials company’s stock valued at $879,000 after purchasing an additional 272 shares during the period. Moors & Cabot Inc. raised its stake in shares of Goldcorp by 1.1% in the 2nd quarter. Moors & Cabot Inc. now owns 24,454 shares of the basic materials company’s stock valued at $313,000 after purchasing an additional 275 shares during the period. First Interstate Bank raised its stake in shares of Goldcorp by 2.4% in the 2nd quarter. First Interstate Bank now owns 13,050 shares of the basic materials company’s stock valued at $168,000 after purchasing an additional 300 shares during the period. Lehman Financial Resources Inc. raised its stake in shares of Goldcorp by 0.4% in the 2nd quarter. Lehman Financial Resources Inc. now owns 68,701 shares of the basic materials company’s stock valued at $891,000 after purchasing an additional 300 shares during the period. Finally, Boyer & Corporon Wealth Management LLC raised its stake in shares of Goldcorp by 2.1% in the 2nd quarter. Boyer & Corporon Wealth Management LLC now owns 19,429 shares of the basic materials company’s stock valued at $251,000 after purchasing an additional 403 shares during the period. 53.78% of the stock is currently owned by hedge funds and other institutional investors.

About Goldcorp

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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