Goldcorp Inc. (NYSE:GG) (TSE:G) had its price target increased by equities research analysts at Jefferies Group LLC from $14.50 to $15.00 in a research report issued on Wednesday. The firm currently has a “hold” rating on the basic materials company’s stock. Jefferies Group LLC’s price target would suggest a potential downside of 0.40% from the stock’s current price.
A number of other brokerages have also recently issued reports on GG. Berenberg Bank set a $17.00 price objective on shares of Goldcorp and gave the company a “hold” rating in a research note on Thursday, February 16th. TheStreet raised shares of Goldcorp from a “d+” rating to a “c-” rating in a research note on Friday, February 17th. Canaccord Genuity cut shares of Goldcorp from a “buy” rating to a “hold” rating in a research note on Friday, February 3rd. BMO Capital Markets reissued a “hold” rating and issued a $16.00 price objective on shares of Goldcorp in a research note on Thursday, February 2nd. Finally, Deutsche Bank AG lifted their price objective on shares of Goldcorp from $15.50 to $16.00 and gave the company a “hold” rating in a research note on Tuesday, March 21st. Ten equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $18.19.
Shares of Goldcorp (NYSE:GG) opened at 15.06 on Wednesday. The stock has a 50 day moving average price of $15.13 and a 200 day moving average price of $14.80. The company has a market capitalization of $12.86 billion, a price-to-earnings ratio of 79.26 and a beta of 0.12. Goldcorp has a 1-year low of $11.91 and a 1-year high of $20.38.
Goldcorp (NYSE:GG) last announced its quarterly earnings data on Wednesday, February 15th. The basic materials company reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.03. The business had revenue of $898 million for the quarter, compared to analysts’ expectations of $1.07 billion. Goldcorp had a negative net margin of 114.28% and a positive return on equity of 0.24%. Analysts forecast that Goldcorp will post $0.35 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, March 24th. Stockholders of record on Thursday, March 16th were issued a dividend of $0.02 per share. The ex-dividend date of this dividend was Tuesday, March 14th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.53%. Goldcorp’s dividend payout ratio (DPR) is presently -1.58%.
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Several institutional investors have recently modified their holdings of GG. M&R Capital Management Inc. raised its position in shares of Goldcorp by 10.2% in the fourth quarter. M&R Capital Management Inc. now owns 7,595 shares of the basic materials company’s stock worth $103,000 after buying an additional 700 shares during the period. Orinda Asset Management LLC acquired a new position in shares of Goldcorp during the third quarter worth approximately $116,000. Fore Research & Management LP acquired a new position in shares of Goldcorp during the fourth quarter worth approximately $136,000. GSA Capital Partners LLP acquired a new position in shares of Goldcorp during the fourth quarter worth approximately $137,000. Finally, Fort Pitt Capital Group LLC acquired a new position in shares of Goldcorp during the fourth quarter worth approximately $139,000. Institutional investors own 57.76% of the company’s stock.
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.
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