Goldcorp (NYSE:GG) (TSE:G) has been given a $18.00 target price by investment analysts at Scotiabank in a report issued on Tuesday. The firm currently has a “buy” rating on the basic materials company’s stock. Scotiabank’s target price suggests a potential upside of 16.96% from the company’s current price.
Several other analysts have also issued reports on GG. HC Wainwright reiterated a “buy” rating on shares of Goldcorp in a report on Monday, September 25th. Canaccord Genuity upgraded Goldcorp from a “hold” rating to a “buy” rating and set a $16.90 target price on the stock in a report on Friday, September 29th. Zacks Investment Research lowered Goldcorp from a “hold” rating to a “sell” rating in a report on Monday, October 9th. Jefferies Group set a $13.00 target price on Goldcorp and gave the stock a “hold” rating in a report on Thursday, October 19th. Finally, Royal Bank of Canada set a $15.00 target price on Goldcorp and gave the stock a “hold” rating in a report on Monday, October 23rd. Nine equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $16.85.
Shares of Goldcorp (NYSE:GG) opened at $15.39 on Tuesday. Goldcorp has a twelve month low of $11.64 and a twelve month high of $17.87. The stock has a market capitalization of $14,290.00, a PE ratio of 25.65, a P/E/G ratio of 2.60 and a beta of -0.10. The company has a current ratio of 1.00, a quick ratio of 0.69 and a debt-to-equity ratio of 0.17.
A number of large investors have recently added to or reduced their stakes in GG. Investec Asset Management LTD bought a new stake in Goldcorp in the third quarter valued at approximately $49,710,000. Carmignac Gestion raised its stake in Goldcorp by 11.6% in the third quarter. Carmignac Gestion now owns 30,505,522 shares of the basic materials company’s stock valued at $395,352,000 after buying an additional 3,168,910 shares during the period. CIBC Asset Management Inc raised its stake in Goldcorp by 28.1% in the third quarter. CIBC Asset Management Inc now owns 11,876,598 shares of the basic materials company’s stock valued at $153,791,000 after buying an additional 2,605,368 shares during the period. Guardian Capital LP raised its stake in Goldcorp by 37.3% in the third quarter. Guardian Capital LP now owns 8,664,209 shares of the basic materials company’s stock valued at $112,193,000 after buying an additional 2,354,277 shares during the period. Finally, Flossbach Von Storch AG raised its stake in Goldcorp by 28.0% in the third quarter. Flossbach Von Storch AG now owns 9,157,520 shares of the basic materials company’s stock valued at $118,681,000 after buying an additional 2,005,040 shares during the period. Hedge funds and other institutional investors own 53.42% of the company’s stock.
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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.
