Goldcorp Inc. (GG) Upgraded to “Hold” at Deutsche Bank AG
Deutsche Bank AG upgraded shares of Goldcorp Inc. (NYSE:GG) from a sell rating to a hold rating in a research note published on Monday morning. They currently have $16.00 price target on the stock, up from their previous price target of $15.00.
A number of other brokerages have also recently commented on GG. HSBC reiterated a buy rating on shares of Goldcorp in a research note on Thursday, July 7th. Citigroup Inc. began coverage on shares of Goldcorp in a research note on Tuesday, August 2nd. They issued a neutral rating and a $20.00 price target for the company. Jefferies Group increased their price target on shares of Goldcorp from $17.00 to $20.00 and gave the company a hold rating in a research note on Thursday, July 14th. Zacks Investment Research cut shares of Goldcorp from a buy rating to a hold rating in a research note on Wednesday, June 29th. Finally, Vetr upgraded shares of Goldcorp from a buy rating to a strong-buy rating and set a $21.00 price target for the company in a research note on Wednesday, August 17th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of Hold and a consensus price target of $19.59.
Goldcorp (NYSE:GG) traded down 6.115% on Monday, hitting $14.815. 6,073,203 shares of the stock traded hands. Goldcorp has a 52 week low of $9.46 and a 52 week high of $20.38. The stock’s market cap is $12.64 billion. The firm’s 50 day moving average is $16.60 and its 200 day moving average is $17.57.
Goldcorp (NYSE:GG) last released its earnings results on Wednesday, July 27th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by $0.12. The business earned $921 million during the quarter, compared to the consensus estimate of $882.55 million. Goldcorp had a negative net margin of 115.33% and a negative return on equity of 0.71%. The firm’s revenue for the quarter was down 30.1% on a year-over-year basis. During the same period last year, the business posted $0.08 EPS. Equities analysts anticipate that Goldcorp will post $0.37 earnings per share for the current year.
A number of hedge funds have recently made changes to their positions in GG. Wellington Management Group LLP raised its stake in shares of Goldcorp by 67.4% in the first quarter. Wellington Management Group LLP now owns 3,820,879 shares of the company’s stock worth $62,022,000 after buying an additional 1,538,815 shares during the period. Societe Generale acquired a new stake in shares of Goldcorp during the second quarter worth approximately $3,043,000. Renaissance Technologies LLC raised its stake in shares of Goldcorp by 61.9% in the first quarter. Renaissance Technologies LLC now owns 3,587,561 shares of the company’s stock worth $58,226,000 after buying an additional 1,371,300 shares during the period. Carmignac Gestion raised its stake in shares of Goldcorp by 1.0% in the second quarter. Carmignac Gestion now owns 21,870,143 shares of the company’s stock worth $418,376,000 after buying an additional 218,800 shares during the period. Finally, Legal & General Group Plc raised its stake in shares of Goldcorp by 1.3% in the first quarter. Legal & General Group Plc now owns 4,543,271 shares of the company’s stock worth $74,016,000 after buying an additional 59,132 shares during the period. Institutional investors and hedge funds own 60.40% of the company’s stock.
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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