Cormark Analysts Lift Earnings Estimates for Goldcorp Inc. (G)
Goldcorp Inc. (TSE:G) (NYSE:GG) – Investment analysts at Cormark boosted their FY2017 earnings estimates for Goldcorp in a research note issued on Wednesday. Cormark analyst R. Gray now anticipates that the company will post earnings per share of $0.61 for the year, up from their prior estimate of $0.60. Cormark also issued estimates for Goldcorp’s Q4 2017 earnings at $0.22 EPS, Q1 2019 earnings at $0.17 EPS, Q2 2019 earnings at $0.17 EPS, Q3 2019 earnings at $0.17 EPS and Q4 2019 earnings at $0.17 EPS.
Other equities research analysts have also recently issued reports about the company. Canaccord Genuity upped their price objective on Goldcorp from C$21.00 to C$21.50 in a research note on Thursday, October 26th. JPMorgan Chase & Co. increased their price target on Goldcorp from C$21.00 to C$23.60 in a research note on Wednesday, November 15th. Eight Capital reiterated a “buy” rating on shares of Goldcorp in a research note on Thursday, November 16th. Desjardins reiterated a “hold” rating on shares of Goldcorp in a research note on Monday, December 11th. Finally, BMO Capital Markets set a C$16.00 price target on Goldcorp and gave the company a “market perform” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of C$21.26.
Goldcorp (TSE:G) (NYSE:GG) last issued its quarterly earnings data on Wednesday, October 25th. The company reported C$0.11 earnings per share for the quarter, hitting analysts’ consensus estimates of C$0.11. Goldcorp had a return on equity of 3.20% and a net margin of 12.82%.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 22nd. Shareholders of record on Friday, December 22nd were paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date of this dividend was Wednesday, December 13th. Goldcorp’s dividend payout ratio (DPR) is presently 10.67%.
In other news, insider Russell David Ball sold 2,000 shares of the stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of C$16.82, for a total value of C$33,640.00. Also, Director De La Vega Blanca Treviño acquired 7,150 shares of the business’s stock in a transaction dated Friday, November 17th. The stock was purchased at an average cost of C$13.45 per share, for a total transaction of C$96,167.50. Over the last quarter, insiders sold 6,589 shares of company stock valued at $106,887.
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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.
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