Goldcorp (NYSE:GG) (TSE:G) had its price objective increased by research analysts at CIBC from $17.50 to $20.00 in a note issued to investors on Wednesday. The brokerage presently has an “outperform” rating on the basic materials company’s stock. CIBC’s target price suggests a potential upside of 36.05% from the company’s current price.
A number of other research analysts also recently issued reports on GG. Zacks Investment Research upgraded Goldcorp from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a research note on Monday, January 8th. Canaccord Genuity downgraded Goldcorp from a “buy” rating to a “hold” rating in a research note on Wednesday. Scotiabank set a $18.00 price objective on Goldcorp and gave the company a “buy” rating in a research note on Tuesday. HC Wainwright restated a “buy” rating on shares of Goldcorp in a research note on Monday, September 25th. Finally, Jefferies Group set a $13.00 price objective on Goldcorp and gave the company a “hold” rating in a research note on Thursday, October 19th. Ten research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $17.39.
Shares of Goldcorp (NYSE:GG) traded down $0.69 during trading hours on Wednesday, reaching $14.70. The company’s stock had a trading volume of 13,717,931 shares, compared to its average volume of 8,500,000. The company has a market cap of $12,740.00, a P/E ratio of 24.50, a PEG ratio of 2.60 and a beta of -0.10. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.00 and a quick ratio of 0.69. Goldcorp has a 52-week low of $11.64 and a 52-week high of $17.87.
Goldcorp (NYSE:GG) (TSE:G) last announced its quarterly earnings data on Wednesday, October 25th. The basic materials company reported $0.09 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.09. Goldcorp had a return on equity of 3.27% and a net margin of 14.91%. sell-side analysts forecast that Goldcorp will post 0.44 EPS for the current year.
Hedge funds have recently bought and sold shares of the company. IHT Wealth Management LLC bought a new position in shares of Goldcorp during the 2nd quarter worth $1,441,000. Private Advisor Group LLC bought a new position in shares of Goldcorp during the 3rd quarter worth $137,000. Highlander Capital Management LLC grew its stake in shares of Goldcorp by 4.7% during the 2nd 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 period. First Allied Advisory Services Inc. bought a new position in shares of Goldcorp during the 2nd quarter worth $155,000. Finally, Stephens Inc. AR bought a new position in shares of Goldcorp during the 3rd quarter worth $173,000. Institutional investors own 53.42% of the company’s stock.
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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.