Goldcorp Inc. (NYSE:GG) Receives Consensus Recommendation of “Hold” from Analysts
Shares of Goldcorp Inc. (NYSE:GG) have earned an average rating of “Hold” from the twenty-one brokerages that are presently covering the company. Two investment analysts have rated the stock with a sell recommendation, nine have given a hold recommendation, seven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $20.23.
Several brokerages have recently issued reports on GG. Vetr cut Goldcorp from a “strong-buy” rating to a “buy” rating and set a $21.00 price target on the stock. in a research report on Wednesday, August 10th. Zacks Investment Research raised Goldcorp from a “hold” rating to a “buy” rating and set a $22.00 price objective for the company in a research note on Tuesday, July 12th. Jefferies Group reissued a “hold” rating on shares of Goldcorp in a research note on Wednesday, June 8th. Desjardins lowered Goldcorp from a “buy” rating to a “hold” rating in a research note on Wednesday, July 13th. Finally, Barclays PLC raised their price objective on Goldcorp from $18.00 to $20.00 and gave the stock an “overweight” rating in a research note on Monday, August 8th.
Goldcorp (NYSE:GG) opened at 16.52 on Tuesday. The firm’s market capitalization is $14.09 billion. Goldcorp has a 1-year low of $9.46 and a 1-year high of $20.38. The company has a 50-day moving average price of $16.69 and a 200 day moving average price of $17.56.
Goldcorp (NYSE:GG) last posted its earnings results on Wednesday, July 27th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.03 by $0.12. Goldcorp had a negative net margin of 115.33% and a negative return on equity of 0.71%. The business earned $921 million during the quarter, compared to analyst estimates of $882.55 million. During the same quarter in the prior year, the business earned $0.08 earnings per share. The firm’s revenue was down 30.1% compared to the same quarter last year. Equities analysts anticipate that Goldcorp will post $0.37 earnings per share for the current year.
A number of institutional investors have recently bought and sold shares of GG. Northwestern Mutual Wealth Management Co. raised its position in Goldcorp by 7.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 6,779 shares of the company’s stock valued at $130,000 after buying an additional 496 shares during the period. Smith Affiliated Capital Corp. raised its position in Goldcorp by 95.7% in the second quarter. Smith Affiliated Capital Corp. now owns 6,900 shares of the company’s stock worth $132,000 after buying an additional 3,374 shares during the last quarter. M&R Capital Management Inc. acquired a new position in Goldcorp during the second quarter worth approximately $137,000. Seven Eight Capital LLC acquired a new position in Goldcorp during the second quarter worth approximately $176,000. Finally, Highlander Capital Management LLC raised its position in Goldcorp by 27.0% in the second quarter. Highlander Capital Management LLC now owns 9,400 shares of the company’s stock worth $180,000 after buying an additional 2,000 shares during the last quarter. Institutional investors own 60.40% 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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