Goldcorp (NYSE:GG) (TSE:G) had its price target hoisted by equities researchers at Raymond James Financial from $17.00 to $18.00 in a note issued to investors on Wednesday. The firm presently has a “market perform” rating on the basic materials company’s stock. Raymond James Financial’s target price points to a potential upside of 16.96% from the stock’s previous close.
A number of other research firms have also recently commented on GG. Scotiabank set a $18.00 target price on shares of Goldcorp and gave the stock a “buy” rating in a research note on Tuesday. Canaccord Genuity cut shares of Goldcorp from a “buy” rating to a “hold” rating in a research note on Wednesday. CIBC boosted their target price on shares of Goldcorp from $17.50 to $20.00 and gave the stock an “outperform” rating in a research note on Wednesday. TD Securities upgraded shares of Goldcorp from a “buy” rating to an “action list buy” rating and boosted their price target for the stock from $20.00 to $22.00 in a research report on Wednesday. Finally, Credit Suisse Group upgraded shares of Goldcorp from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $15.50 to $19.00 in a research report on Monday. Ten research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Goldcorp presently has a consensus rating of “Buy” and an average price target of $17.20.
Goldcorp (GG) traded up $1.04 during mid-day trading on Wednesday, hitting $15.39. 23,836,102 shares of the stock were exchanged, compared to its average volume of 9,831,850. The stock has a market capitalization of $13,000.00, a PE ratio of 25.65, a P/E/G ratio of 2.60 and a beta of -0.10. The company has a quick ratio of 0.69, a current ratio of 1.00 and a debt-to-equity ratio of 0.17. Goldcorp has a twelve month low of $11.64 and a twelve month high of $17.87.
A number of large investors have recently bought and sold shares of the business. First Eagle Investment Management LLC lifted its holdings in shares of Goldcorp by 3.1% in the 3rd quarter. First Eagle Investment Management LLC now owns 35,890,978 shares of the basic materials company’s stock worth $465,147,000 after acquiring an additional 1,076,629 shares during the last quarter. Carmignac Gestion lifted its holdings in shares of Goldcorp by 11.6% in the 3rd quarter. Carmignac Gestion now owns 30,505,522 shares of the basic materials company’s stock worth $395,352,000 after acquiring an additional 3,168,910 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Goldcorp by 4.1% in the 2nd quarter. Vanguard Group Inc. now owns 20,163,542 shares of the basic materials company’s stock worth $260,311,000 after acquiring an additional 801,859 shares during the last quarter. Bank of Montreal Can lifted its holdings in shares of Goldcorp by 1.1% in the 4th quarter. Bank of Montreal Can now owns 13,497,180 shares of the basic materials company’s stock worth $172,358,000 after acquiring an additional 142,752 shares during the last quarter. Finally, CIBC Asset Management Inc lifted its holdings in shares of Goldcorp by 28.1% in the 3rd quarter. CIBC Asset Management Inc now owns 11,876,598 shares of the basic materials company’s stock worth $153,791,000 after acquiring an additional 2,605,368 shares during the last quarter. 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.
