Goldcorp (GG) Downgraded to Hold at Desjardins

Goldcorp (NYSE:GG) (TSE:G) was downgraded by Desjardins from a “buy” rating to a “hold” rating in a research report issued on Monday, December 11th. Desjardins also issued estimates for Goldcorp’s Q4 2017 earnings at $0.11 EPS, FY2017 earnings at $0.50 EPS, Q1 2018 earnings at $0.11 EPS, Q2 2018 earnings at $0.14 EPS, Q3 2018 earnings at $0.14 EPS, Q4 2018 earnings at $0.15 EPS, FY2018 earnings at $0.54 EPS, Q1 2019 earnings at $0.21 EPS, Q2 2019 earnings at $0.21 EPS, Q3 2019 earnings at $0.22 EPS, FY2019 earnings at $0.86 EPS, FY2020 earnings at $0.71 EPS and FY2021 earnings at $0.59 EPS.

Several other equities research analysts have also issued reports on the stock. Royal Bank of Canada dropped their target price on shares of Goldcorp from $16.00 to $15.00 and set a “sector perform” rating for the company in a research report on Tuesday, August 15th. National Bank Financial upgraded shares of Goldcorp from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 26th. Scotiabank dropped their target price on shares of Goldcorp from $18.00 to $17.00 and set an “outperform” rating for the company in a research report on Monday, October 30th. Zacks Investment Research lowered shares of Goldcorp from a “hold” rating to a “sell” rating in a research report on Monday, October 9th. Finally, Canaccord Genuity upgraded shares of Goldcorp from a “hold” rating to a “buy” rating and set a $16.90 target price for the company in a research report on Friday, September 29th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $16.76.

Shares of Goldcorp (NYSE GG) traded up $0.10 during mid-day trading on Monday, hitting $12.58. 3,932,060 shares of the stock traded hands, compared to its average volume of 8,315,993. Goldcorp has a 52 week low of $11.64 and a 52 week high of $17.87. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.69 and a current ratio of 1.00. The stock has a market capitalization of $10,820.16, a P/E ratio of 20.62, a P/E/G ratio of 2.91 and a beta of -0.10.

Several hedge funds and other institutional investors have recently modified their holdings of GG. IHT Wealth Management LLC purchased a new position in Goldcorp during the 2nd quarter valued at $1,441,000. Private Advisor Group LLC bought a new stake in shares of Goldcorp during the 3rd quarter valued at $137,000. Highlander Capital Management LLC boosted its holdings in shares of Goldcorp by 4.7% during the 2nd quarter. Highlander Capital Management LLC now owns 11,125 shares of the basic materials company’s stock valued at $142,000 after buying an additional 500 shares in the last quarter. First Allied Advisory Services Inc. bought a new stake in shares of Goldcorp during the 2nd quarter valued at $155,000. Finally, First Interstate Bank boosted its holdings in shares of Goldcorp by 2.4% during the 2nd quarter. First Interstate Bank now owns 13,050 shares of the basic materials company’s stock valued at $168,000 after buying an additional 300 shares in the last quarter. 53.41% of the stock is currently owned by institutional investors.

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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.