Goldcorp Inc. (NYSE:GG) (TSE:G) had its price target increased by equities research analysts at J P Morgan Chase & Co from $16.00 to $18.00 in a research report issued on Wednesday. The brokerage presently has an “overweight” rating on the basic materials company’s stock. J P Morgan Chase & Co’s target price suggests a potential upside of 35.95% from the company’s previous close.

Several other research firms have also commented on GG. Scotiabank set a $18.00 price target on shares of Goldcorp and gave the company an “outperform” rating in a research report on Thursday, July 27th. National Bank Financial lowered shares of Goldcorp from an “outperform” rating to a “sector perform” rating in a research report on Monday, July 24th. Morgan Stanley reissued an “overweight” rating on shares of Goldcorp in a research report on Friday, July 21st. Zacks Investment Research lowered shares of Goldcorp from a “hold” rating to a “sell” rating in a research report on Monday, October 9th. Finally, Royal Bank Of Canada set a $16.00 price target on shares of Goldcorp and gave the company a “hold” rating in a research report on Tuesday, July 18th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $16.92.

Goldcorp (GG) remained flat at $$13.24 during mid-day trading on Wednesday. 5,543,313 shares of the stock traded hands, compared to its average volume of 7,479,704. The firm has a market capitalization of $11,496.42, a PE ratio of 25.02, a price-to-earnings-growth ratio of 3.33 and a beta of -0.07. Goldcorp has a 52-week low of $11.91 and a 52-week high of $17.87. The company has a quick ratio of 0.69, a current ratio of 1.00 and a debt-to-equity ratio of 0.17.

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A number of large investors have recently modified their holdings of GG. Nomura Asset Management Co. Ltd. increased its holdings in Goldcorp by 55.6% in the 1st quarter. Nomura Asset Management Co. Ltd. now owns 8,400 shares of the basic materials company’s stock worth $123,000 after buying an additional 3,000 shares during the period. Creative Planning increased its holdings in Goldcorp by 4.2% in the 2nd quarter. Creative Planning now owns 35,906 shares of the basic materials company’s stock worth $464,000 after buying an additional 1,449 shares during the period. Mn Services Vermogensbeheer B.V. acquired a new position in Goldcorp in the 2nd quarter worth approximately $1,785,000. Jarislowsky Fraser Ltd increased its holdings in Goldcorp by 3.7% in the 2nd quarter. Jarislowsky Fraser Ltd now owns 17,010 shares of the basic materials company’s stock worth $218,000 after buying an additional 600 shares during the period. Finally, Aperio Group LLC increased its holdings in Goldcorp by 5.7% in the 2nd quarter. Aperio Group LLC now owns 233,788 shares of the basic materials company’s stock worth $3,018,000 after buying an additional 12,702 shares during the period. Institutional investors own 54.77% of the company’s stock.

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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