Goldcorp Inc. (GG) Short Interest Down 35.7% in November

Goldcorp Inc. (NYSE:GG) (TSE:G) was the recipient of a large decrease in short interest in November. As of November 15th, there was short interest totalling 13,605,957 shares, a decrease of 35.7% from the October 31st total of 21,162,109 shares. Based on an average daily volume of 8,146,335 shares, the days-to-cover ratio is currently 1.7 days.

A number of research firms recently issued reports on GG. ValuEngine raised shares of Goldcorp from a “sell” rating to a “hold” rating in a research report on Wednesday, November 21st. JPMorgan Chase & Co. dropped their target price on shares of Goldcorp from $18.00 to $16.00 and set an “overweight” rating for the company in a research report on Monday, September 17th. Royal Bank of Canada dropped their target price on shares of Goldcorp from $16.00 to $15.00 and set an “outperform” rating for the company in a research report on Monday, October 29th. Deutsche Bank set a $14.00 target price on shares of Goldcorp and gave the stock a “hold” rating in a research report on Tuesday, October 2nd. Finally, TheStreet downgraded shares of Goldcorp from a “c-” rating to a “d+” rating in a research report on Tuesday, November 13th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $15.64.

Shares of NYSE:GG opened at $9.28 on Monday. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.83 and a quick ratio of 0.48. Goldcorp has a 52-week low of $8.42 and a 52-week high of $15.55. The company has a market capitalization of $8.07 billion, a price-to-earnings ratio of 23.20, a PEG ratio of 12.58 and a beta of 0.09.

Goldcorp (NYSE:GG) (TSE:G) last issued its quarterly earnings data on Wednesday, October 24th. The basic materials company reported ($0.08) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.02) by ($0.06). Goldcorp had a net margin of 2.47% and a return on equity of 0.97%. The firm had revenue of $621.00 million during the quarter, compared to analyst estimates of $714.46 million. On average, analysts anticipate that Goldcorp will post 0.07 EPS for the current fiscal year.

A number of large investors have recently modified their holdings of GG. Alps Advisors Inc. grew its position in shares of Goldcorp by 23.9% during the second quarter. Alps Advisors Inc. now owns 1,784,584 shares of the basic materials company’s stock worth $22,789,000 after buying an additional 344,737 shares in the last quarter. Fiera Capital Corp grew its position in shares of Goldcorp by 11.3% during the second quarter. Fiera Capital Corp now owns 795,189 shares of the basic materials company’s stock worth $10,919,000 after buying an additional 80,820 shares in the last quarter. Virginia Retirement Systems ET AL grew its position in shares of Goldcorp by 527.2% during the second quarter. Virginia Retirement Systems ET AL now owns 1,327,190 shares of the basic materials company’s stock worth $18,211,000 after buying an additional 1,115,590 shares in the last quarter. Sei Investments Co. grew its position in shares of Goldcorp by 1,083.9% during the second quarter. Sei Investments Co. now owns 62,463 shares of the basic materials company’s stock worth $857,000 after buying an additional 57,187 shares in the last quarter. Finally, Terril Brothers Inc. grew its position in shares of Goldcorp by 14.3% during the second quarter. Terril Brothers Inc. now owns 1,653,570 shares of the basic materials company’s stock worth $22,670,000 after buying an additional 206,670 shares in the last quarter. 54.67% of the stock is owned by institutional investors.

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Goldcorp Company Profile

Goldcorp Inc acquires, explores for, develops, and operates precious metal properties in Canada, the United States, Mexico, and Central and South America. It primarily explores for gold, silver, lead, zinc, and copper deposits. The company's principal producing mining properties include the Éléonore, Musselwhite, Porcupine, and Red Lake mines in Canada; the Peñasquito mine in Mexico; the Cerro Negro mine in Argentina; and the Pueblo Viejo mine in the Dominican Republic.

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