Goldcorp (NYSE:GG) (TSE:G) had its price objective increased by research analysts at Scotiabank from $17.00 to $17.50 in a research report issued on Wednesday. The brokerage currently has an “outperform” rating on the basic materials company’s stock. Scotiabank’s price target would indicate a potential upside of 22.21% from the company’s previous close.
Several other equities analysts have also recently weighed in on GG. HC Wainwright reiterated a “buy” rating on shares of Goldcorp in a report on Monday, September 25th. Canaccord Genuity upgraded Goldcorp from a “hold” rating to a “buy” rating and set a $16.90 price objective on the stock in a report on Friday, September 29th. Zacks Investment Research cut Goldcorp from a “hold” rating to a “sell” rating in a report on Monday, October 9th. Jefferies Group set a $13.00 price objective on Goldcorp and gave the company a “hold” rating in a report on Thursday, October 19th. Finally, Royal Bank of Canada set a $15.00 target price on Goldcorp and gave the company a “hold” rating in a research report on Monday, October 23rd. Ten 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’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $17.39.
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. Goldcorp has a fifty-two week low of $11.64 and a fifty-two week high of $17.87. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.00 and a quick ratio of 0.69. The company has a market cap of $12,430.00, a PE ratio of 23.87, a PEG ratio of 2.70 and a beta of -0.10.
Large investors have recently bought and sold shares of the business. Swiss National Bank increased its position in shares of Goldcorp by 1.0% during the 3rd quarter. Swiss National Bank now owns 7,797,700 shares of the basic materials company’s stock worth $101,269,000 after purchasing an additional 73,700 shares during the last quarter. Virtu Financial LLC increased its position in shares of Goldcorp by 170.6% during the 3rd quarter. Virtu Financial LLC now owns 70,331 shares of the basic materials company’s stock worth $562,000 after purchasing an additional 44,340 shares during the last quarter. Caxton Associates LP acquired a new position in shares of Goldcorp during the 3rd quarter worth approximately $5,832,000. CIBC Asset Management Inc increased its position in shares of Goldcorp by 28.1% during the 3rd quarter. CIBC Asset Management Inc now owns 11,876,598 shares of the basic materials company’s stock worth $153,791,000 after purchasing an additional 2,605,368 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its position in shares of Goldcorp by 40.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,890,911 shares of the basic materials company’s stock worth $24,485,000 after purchasing an additional 547,352 shares during the last quarter. 53.42% of the stock is currently owned by hedge funds and other institutional investors.
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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