Brokers Issue Forecasts for Goldcorp Inc.’s FY2018 Earnings (GG)

Goldcorp Inc. (NYSE:GG) (TSE:G) – Equities research analysts at Desjardins reduced their FY2018 earnings per share estimates for Goldcorp in a report issued on Wednesday. Desjardins analyst J. Wolfson now forecasts that the basic materials company will earn $0.35 per share for the year, down from their prior estimate of $0.54. Desjardins has a “Hold” rating on the stock. Desjardins also issued estimates for Goldcorp’s FY2019 earnings at $0.71 EPS.

Several other equities analysts also recently commented on the company. Jefferies Group set a $16.00 price objective on Goldcorp and gave the company a “hold” rating in a research note on Tuesday, January 16th. Raymond James Financial upped their price objective on Goldcorp from $17.00 to $18.00 and gave the company a “market perform” rating in a research note on Wednesday, January 17th. TD Securities upgraded Goldcorp from a “buy” rating to an “action list buy” rating and upped their price objective for the company from $20.00 to $22.00 in a research note on Wednesday, January 17th. Scotiabank upped their price objective on Goldcorp from $17.00 to $17.50 and gave the company an “outperform” rating in a research note on Wednesday, January 17th. Finally, CIBC increased their target price on Goldcorp from $17.50 to $20.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 17th. Ten analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $17.39.

Goldcorp (GG) traded down $0.07 during trading on Monday, reaching $14.32. The company had a trading volume of 6,959,200 shares, compared to its average volume of 10,024,438. Goldcorp has a fifty-two week low of $11.64 and a fifty-two week high of $17.87. The company has a current ratio of 1.00, a quick ratio of 0.69 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $12,470.00, a P/E ratio of 23.87, a price-to-earnings-growth ratio of 3.25 and a beta of -0.10.

Goldcorp (NYSE:GG) (TSE:G) last posted its quarterly earnings data on Wednesday, October 25th. The basic materials company reported $0.09 EPS for the quarter, meeting the consensus estimate of $0.09. Goldcorp had a return on equity of 3.27% and a net margin of 14.91%.

Institutional investors have recently added to or reduced their stakes in the company. Swiss National Bank increased its holdings in shares of Goldcorp by 1.0% in the third quarter. Swiss National Bank now owns 7,797,700 shares of the basic materials company’s stock worth $101,269,000 after purchasing an additional 73,700 shares during the period. Virtu Financial LLC increased its holdings in shares of Goldcorp by 170.6% in the third quarter. Virtu Financial LLC now owns 70,331 shares of the basic materials company’s stock worth $562,000 after purchasing an additional 44,340 shares during the period. Caxton Associates LP bought a new position in shares of Goldcorp in the third quarter worth $5,832,000. CIBC Asset Management Inc increased its holdings in shares of 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 worth $153,791,000 after purchasing an additional 2,605,368 shares during the period. Finally, Russell Investments Group Ltd. increased its holdings in shares of 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 worth $24,485,000 after purchasing an additional 547,352 shares during the period. 53.47% of the stock is currently owned by hedge funds and other institutional investors.

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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.

Earnings History and Estimates for Goldcorp (NYSE:GG)

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