UBS Group Lowers Goldcorp (GG) to Neutral

Goldcorp (NYSE:GG) (TSE:G) was downgraded by equities researchers at UBS Group from a “buy” rating to a “neutral” rating in a report released on Tuesday, 247wallst.com reports. They currently have a $11.00 target price on the basic materials company’s stock. UBS Group’s price target would indicate a potential upside of 0.27% from the stock’s current price.

GG has been the topic of a number of other reports. Vertical Research lowered Goldcorp from a “buy” rating to a “hold” rating in a report on Wednesday, January 9th. BMO Capital Markets upgraded Goldcorp from a “market perform” rating to an “outperform” rating and set a $14.79 price target on the stock in a report on Thursday, October 25th. They noted that the move was a valuation call. Macquarie lowered Goldcorp from an “outperform” rating to a “neutral” rating in a research note on Monday, January 7th. Royal Bank of Canada lowered their target price on Goldcorp from $16.00 to $15.00 and set an “outperform” rating on the stock in a research note on Monday, October 29th. Finally, Cormark restated a “hold” rating on shares of Goldcorp in a research note on Tuesday, January 29th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $13.53.

Goldcorp stock traded down $0.01 during mid-day trading on Tuesday, reaching $10.97. 68,768 shares of the company’s stock were exchanged, compared to its average volume of 11,869,653. The firm has a market capitalization of $9.52 billion, a P/E ratio of 27.48 and a beta of 0.30. Goldcorp has a one year low of $8.42 and a one year high of $14.66. The company has a current ratio of 0.83, a quick ratio of 0.48 and a debt-to-equity ratio of 0.18.

Several institutional investors and hedge funds have recently modified their holdings of the business. Wedbush Securities Inc. boosted its holdings in shares of Goldcorp by 4.5% in the 4th quarter. Wedbush Securities Inc. now owns 24,560 shares of the basic materials company’s stock worth $241,000 after purchasing an additional 1,053 shares in the last quarter. First Interstate Bank lifted its stake in shares of Goldcorp by 6.1% in the 4th quarter. First Interstate Bank now owns 19,050 shares of the basic materials company’s stock valued at $187,000 after acquiring an additional 1,100 shares during the last quarter. AGF Investments America Inc. lifted its stake in shares of Goldcorp by 2.5% in the 4th quarter. AGF Investments America Inc. now owns 57,002 shares of the basic materials company’s stock valued at $559,000 after acquiring an additional 1,377 shares during the last quarter. Stephens Inc. AR lifted its stake in shares of Goldcorp by 12.9% in the 4th quarter. Stephens Inc. AR now owns 15,556 shares of the basic materials company’s stock valued at $152,000 after acquiring an additional 1,779 shares during the last quarter. Finally, Point View Wealth Management Inc. lifted its stake in shares of Goldcorp by 7.6% in the 4th quarter. Point View Wealth Management Inc. now owns 26,980 shares of the basic materials company’s stock valued at $264,000 after acquiring an additional 1,911 shares during the last quarter. Hedge funds and other institutional investors own 54.38% of the company’s stock.

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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