Wells Fargo & Company MN Increases Position in Goldcorp Inc. (GG)
Wells Fargo & Company MN increased its position in Goldcorp Inc. (NYSE:GG) (TSE:G) by 18.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,327,230 shares of the basic materials company’s stock after purchasing an additional 518,483 shares during the quarter. Wells Fargo & Company MN owned approximately 0.38% of Goldcorp worth $42,955,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in the stock. Nomura Asset Management Co. Ltd. grew its position in shares of Goldcorp by 55.6% during the 1st quarter. Nomura Asset Management Co. Ltd. now owns 8,400 shares of the basic materials company’s stock worth $123,000 after buying an additional 3,000 shares during the period. BB&T Securities LLC acquired a new position in shares of Goldcorp during the 1st quarter worth about $161,000. Bourgeon Capital Management LLC acquired a new position in shares of Goldcorp during the 2nd quarter worth about $161,000. First Financial Equity Corporation acquired a new position in shares of Goldcorp during the 1st quarter worth about $162,000. Finally, First Interstate Bank grew its position in shares of Goldcorp by 2.4% during the 2nd quarter. First Interstate Bank now owns 13,050 shares of the basic materials company’s stock worth $168,000 after buying an additional 300 shares during the period. Hedge funds and other institutional investors own 53.97% of the company’s stock.
Shares of Goldcorp Inc. (NYSE GG) opened at 12.97 on Tuesday. The company’s 50-day moving average price is $13.23 and its 200 day moving average price is $13.86. The firm has a market cap of $11.22 billion, a PE ratio of 23.80 and a beta of -0.02. Goldcorp Inc. has a 1-year low of $11.91 and a 1-year high of $17.87.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Thursday, September 14th will be given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date is Wednesday, September 13th. Goldcorp’s payout ratio is 14.55%.
Several equities analysts have recently issued reports on the company. Jefferies Group LLC set a $13.00 target price on Goldcorp and gave the stock a “hold” rating in a research report on Tuesday, August 15th. Royal Bank Of Canada cut their price objective on Goldcorp from $16.00 to $15.00 and set a “sector perform” rating on the stock in a report on Tuesday, August 15th. BidaskClub upgraded Goldcorp from a “sell” rating to a “hold” rating in a report on Friday, August 11th. TD Securities cut their price objective on Goldcorp from $21.00 to $20.00 and set a “buy” rating on the stock in a report on Friday, August 4th. Finally, Scotiabank set a $18.00 price objective on Goldcorp and gave the company an “outperform” rating in a report on Thursday, July 27th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $16.64.
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.
Receive News & Stock Ratings for Goldcorp Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Goldcorp Inc. and related stocks with our FREE daily email newsletter.