Goldcorp (GG) Raised to “Action List Buy” at TD Securities

Goldcorp (NYSE:GG) (TSE:G) was upgraded by analysts at TD Securities from a “buy” rating to an “action list buy” rating in a research note issued to investors on Wednesday. The firm currently has a $22.00 price target on the basic materials company’s stock, up from their previous price target of $20.00. TD Securities’ price objective points to a potential upside of 49.66% from the company’s previous close.

GG has been the subject of several other research reports. National Bank Financial raised Goldcorp from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 26th. Scotiabank reduced their price target on Goldcorp from $18.00 to $17.00 and set an “outperform” rating on the stock in a report on Monday, October 30th. Canaccord Genuity cut Goldcorp from a “buy” rating to a “hold” rating in a report on Wednesday. Royal Bank of Canada set a $15.00 price target on Goldcorp and gave the stock a “hold” rating in a report on Monday, October 23rd. Finally, Zacks Investment Research cut Goldcorp from a “buy” rating to a “hold” rating in a report on Tuesday, January 2nd. Ten analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $17.39.

Shares of Goldcorp (GG) traded down $0.69 during midday trading 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 debt-to-equity ratio of 0.17, a quick ratio of 0.69 and a current ratio of 1.00. The firm has a market capitalization of $12,740.00, a P/E ratio of 24.50, a price-to-earnings-growth ratio of 2.60 and a beta of -0.10. Goldcorp has a 12-month low of $11.64 and a 12-month high of $17.87.

Goldcorp (NYSE:GG) (TSE:G) last issued its earnings results on Wednesday, October 25th. The basic materials company reported $0.09 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.09. Goldcorp had a return on equity of 3.27% and a net margin of 14.91%. equities research analysts forecast that Goldcorp will post 0.44 EPS for the current year.

Hedge funds have recently made changes to their positions in the stock. Swiss National Bank boosted its holdings in Goldcorp by 1.0% in the third quarter. Swiss National Bank now owns 7,797,700 shares of the basic materials company’s stock valued at $101,269,000 after acquiring an additional 73,700 shares during the last quarter. Virtu Financial LLC boosted its holdings in Goldcorp by 170.6% in the third quarter. Virtu Financial LLC now owns 70,331 shares of the basic materials company’s stock valued at $562,000 after acquiring an additional 44,340 shares during the last quarter. CIBC Asset Management Inc boosted its holdings 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 acquiring an additional 2,605,368 shares during the last quarter. Caxton Associates LP bought a new stake in Goldcorp in the third quarter valued at approximately $5,832,000. Finally, Russell Investments Group Ltd. boosted its holdings in Goldcorp by 40.7% in the third quarter. Russell Investments Group Ltd. now owns 1,890,911 shares of the basic materials company’s stock valued at $24,485,000 after acquiring an additional 547,352 shares during the last quarter. Institutional investors and hedge funds 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.

Analyst Recommendations for Goldcorp (NYSE:GG)