Goldcorp (G) Price Target Raised to C$21.50 at Canaccord Genuity

Goldcorp (TSE:G) (NYSE:GG) had its price objective boosted by Canaccord Genuity from C$21.00 to C$21.50 in a research report issued on Friday. Canaccord Genuity’s price target indicates a potential upside of 20.25% from the stock’s current price.

A number of other research firms also recently weighed in on G. Royal Bank of Canada upgraded Goldcorp from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from C$15.00 to C$18.00 in a report on Wednesday, November 1st. Eight Capital reiterated a “buy” rating on shares of Goldcorp in a report on Thursday, November 16th. Scotiabank reduced their target price on Goldcorp to C$22.00 and set an “outperform” rating on the stock in a report on Tuesday, October 31st. CIBC downgraded Goldcorp from a “buy” rating to a “sell” rating in a report on Thursday, November 30th. Finally, National Bank Financial upped their target price on Goldcorp from C$24.00 to C$25.00 and gave the stock an “outperform” rating in a report on Wednesday. One investment 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’s stock. Goldcorp currently has an average rating of “Buy” and a consensus target price of C$21.26.

Shares of Goldcorp (TSE:G) traded down C$0.41 during trading hours on Friday, reaching C$17.88. The company had a trading volume of 3,367,860 shares, compared to its average volume of 2,816,094. Goldcorp has a 52 week low of C$15.00 and a 52 week high of C$23.35. The stock has a market cap of $15,530.00, a P/E ratio of 23.84 and a beta of -0.53.

Goldcorp (TSE:G) (NYSE:GG) last announced its quarterly earnings results on Wednesday, October 25th. The company reported C$0.11 earnings per share (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, insider Russell David Ball sold 2,000 shares of the company’s stock in a transaction that occurred on 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 stock in a transaction that occurred on Friday, November 17th. The stock was acquired at an average cost of C$13.45 per share, for a total transaction of C$96,167.50. Over the last three months, insiders sold 6,589 shares of company stock worth $106,887.

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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.

Analyst Recommendations for Goldcorp (TSE:G)

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