Goldcorp Inc. (G) to Post FY2018 Earnings of $0.70 Per Share, Jefferies Group Forecasts
Goldcorp Inc. (TSE:G) (NYSE:GG) – Analysts at Jefferies Group increased their FY2018 earnings per share (EPS) estimates for Goldcorp in a report issued on Tuesday. Jefferies Group analyst C. Lafemina now expects that the company will post earnings per share of $0.70 for the year, up from their previous forecast of $0.68.
Several other equities research analysts have also recently commented on the company. National Bank Financial increased their price target on Goldcorp from C$24.00 to C$25.00 and gave the company an “outperform” rating in a report on Wednesday. BMO Capital Markets set a C$16.00 price target on Goldcorp and gave the company a “market perform” rating in a report on Wednesday. CSFB raised Goldcorp from a “neutral” rating to an “outperform” rating and increased their price target for the company from C$15.50 to C$19.00 in a report on Tuesday. Desjardins reaffirmed a “hold” rating on shares of Goldcorp in a report on Monday, December 11th. Finally, CIBC cut Goldcorp from a “buy” rating to a “sell” rating in a report on Thursday, November 30th. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of C$21.26.
Goldcorp (TSE:G) (NYSE:GG) last announced its earnings results on Wednesday, October 25th. The company reported C$0.11 EPS for the quarter, meeting analysts’ consensus estimates of C$0.11. Goldcorp had a return on equity of 3.20% and a net margin of 12.82%.
In related news, Director De La Vega Blanca Treviño bought 7,150 shares of the firm’s stock in a transaction that occurred on 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. Also, insider Russell David Ball sold 3,000 shares of Goldcorp stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of C$16.91, for a total value of C$50,730.00. Over the last 90 days, insiders have sold 6,589 shares of company stock valued at $106,887.
The company also recently declared a quarterly dividend, which was paid on Friday, December 22nd. Stockholders of record on Friday, December 22nd were given a dividend of $0.02 per share. The ex-dividend date of this dividend was Wednesday, December 13th. This represents a $0.08 annualized dividend and a dividend yield of 0.44%. Goldcorp’s dividend payout ratio is currently 10.67%.
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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.
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