CIBC Boosts Goldcorp (GG) Price Target to $20.00

Goldcorp (NYSE:GG) (TSE:G) had its price target lifted by CIBC from $17.50 to $20.00 in a research note issued to investors on Wednesday. The brokerage currently has an outperform rating on the basic materials company’s stock.

A number of other equities research analysts have also commented on GG. National Bank Financial raised Goldcorp from a sector perform rating to an outperform rating in a research report on Thursday, October 26th. Credit Suisse Group raised Goldcorp from a neutral rating to an outperform rating and increased their price target for the company from $15.50 to $19.00 in a research report on Monday. Scotiabank lowered their price target on Goldcorp from $18.00 to $17.00 and set an outperform rating for the company in a research report on Monday, October 30th. Royal Bank of Canada raised Goldcorp from a sector perform rating to an outperform rating and increased their price target for the company from $15.00 to $18.00 in a research report on Wednesday, November 1st. Finally, Zacks Investment Research lowered Goldcorp from a hold rating to a sell rating in a research report on Monday, October 9th. Ten equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Goldcorp currently has an average rating of Buy and an average price target of $17.39.

Shares of Goldcorp (GG) traded down $0.07 during trading hours on Wednesday, hitting $14.32. The stock had a trading volume of 6,960,000 shares, compared to its average volume of 8,790,000. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.00 and a quick ratio of 0.69. Goldcorp has a one year low of $11.64 and a one year high of $17.87. The firm has a market capitalization of $12,430.00, a price-to-earnings ratio of 23.87, a price-to-earnings-growth ratio of 2.70 and a beta of -0.10.

Goldcorp (NYSE:GG) (TSE:G) last issued its earnings results on Wednesday, October 25th. The basic materials company reported $0.09 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.09. Goldcorp had a return on equity of 3.27% and a net margin of 14.91%. research analysts anticipate that Goldcorp will post 0.44 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 22nd. Shareholders of record on Thursday, December 14th were paid a $0.02 dividend. The ex-dividend date was Wednesday, December 13th. This represents a $0.08 dividend on an annualized basis and a yield of 0.56%. Goldcorp’s dividend payout ratio (DPR) is presently 13.33%.

A number of large investors have recently made changes to their positions in the business. Moors & Cabot Inc. grew its stake in Goldcorp by 1.1% in the 2nd quarter. Moors & Cabot Inc. now owns 24,454 shares of the basic materials company’s stock valued at $313,000 after purchasing an additional 275 shares during the period. Lehman Financial Resources Inc. grew its stake in shares of Goldcorp by 0.4% during the 2nd quarter. Lehman Financial Resources Inc. now owns 68,701 shares of the basic materials company’s stock worth $891,000 after acquiring an additional 300 shares during the period. Stifel Financial Corp grew its stake in shares of Goldcorp by 0.7% during the 2nd quarter. Stifel Financial Corp now owns 58,951 shares of the basic materials company’s stock worth $761,000 after acquiring an additional 430 shares during the period. Highlander Capital Management LLC grew its stake 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 worth $142,000 after acquiring an additional 500 shares during the period. Finally, IHT Wealth Management LLC bought a new position in shares of Goldcorp during the 2nd quarter worth $1,441,000. Hedge funds and other institutional investors own 53.42% of the company’s stock.

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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.

Analyst Recommendations for Goldcorp (NYSE:GG)

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