Goldcorp (GG) Given a $16.00 Price Target by Jefferies Group Analysts

Goldcorp (NYSE:GG) (TSE:G) received a $16.00 price target from research analysts at Jefferies Group in a research note issued on Tuesday. The firm presently has a “hold” rating on the basic materials company’s stock. Jefferies Group’s price objective suggests a potential upside of 8.84% from the stock’s previous close.

A number of other brokerages have also recently issued reports on GG. Scotiabank set a $18.00 price objective on Goldcorp and gave the stock a “buy” rating in a research note on Tuesday. Canaccord Genuity cut Goldcorp from a “buy” rating to a “hold” rating in a research note on Wednesday. CIBC upped their price objective on Goldcorp from $17.50 to $20.00 and gave the stock an “outperform” rating in a research note on Wednesday. TD Securities upgraded Goldcorp from a “buy” rating to an “action list buy” rating and upped their price objective for the stock from $20.00 to $22.00 in a research note on Wednesday. Finally, Raymond James Financial upped their price objective on Goldcorp from $17.00 to $18.00 and gave the stock a “market perform” rating in a research note on Wednesday. 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 company. Goldcorp currently has a consensus rating of “Buy” and an average price target of $17.39.

Goldcorp (NYSE:GG) traded down $0.69 during midday trading on Tuesday, 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 PE ratio of 24.50, a price-to-earnings-growth 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 12-month low of $11.64 and a 12-month high of $17.87.

Goldcorp (NYSE:GG) (TSE:G) last released its earnings results on Wednesday, October 25th. The basic materials company reported $0.09 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate 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 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of GG. Van ECK Associates Corp lifted its position in shares of Goldcorp by 5.6% during the 1st quarter. Van ECK Associates Corp now owns 58,304,591 shares of the basic materials company’s stock valued at $850,663,000 after acquiring an additional 3,112,702 shares during the period. First Eagle Investment Management LLC lifted its position in shares of Goldcorp by 3.1% during the 3rd quarter. First Eagle Investment Management LLC now owns 35,890,978 shares of the basic materials company’s stock valued at $465,147,000 after acquiring an additional 1,076,629 shares during the period. Carmignac Gestion lifted its position in shares of Goldcorp by 11.6% during the 3rd quarter. Carmignac Gestion now owns 30,505,522 shares of the basic materials company’s stock valued at $395,352,000 after acquiring an additional 3,168,910 shares during the period. Vanguard Group Inc. lifted its position in shares of Goldcorp by 4.1% during the 2nd quarter. Vanguard Group Inc. now owns 20,163,542 shares of the basic materials company’s stock valued at $260,311,000 after acquiring an additional 801,859 shares during the period. Finally, FMR LLC lifted its position in shares of Goldcorp by 163.8% during the 1st quarter. FMR LLC now owns 17,612,338 shares of the basic materials company’s stock valued at $256,931,000 after acquiring an additional 10,937,064 shares during the period. 53.42% of the stock is currently owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for Goldcorp (NYSE:GG)