Guardian Capital LP Buys 1,146,563 Shares of Goldcorp Inc. (GG)
Guardian Capital LP increased its stake in Goldcorp Inc. (NYSE:GG) (TSE:G) by 22.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 6,309,932 shares of the basic materials company’s stock after purchasing an additional 1,146,563 shares during the quarter. Goldcorp makes up approximately 1.3% of Guardian Capital LP’s investment portfolio, making the stock its 25th biggest position. Guardian Capital LP owned approximately 0.72% of Goldcorp worth $81,262,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently made changes to their positions in GG. Guardian Capital Advisors LP raised its holdings in Goldcorp by 38.1% during the second quarter. Guardian Capital Advisors LP now owns 18,415 shares of the basic materials company’s stock valued at $300,000 after acquiring an additional 5,085 shares during the period. Compagnie Lombard Odier SCmA raised its holdings in Goldcorp by 0.4% during the second quarter. Compagnie Lombard Odier SCmA now owns 421,400 shares of the basic materials company’s stock valued at $5,427,000 after acquiring an additional 1,800 shares during the period. First Allied Advisory Services Inc. bought a new stake in Goldcorp during the second quarter valued at about $155,000. Balyasny Asset Management LLC bought a new stake in Goldcorp during the second quarter valued at about $995,000. Finally, Stifel Financial Corp raised its holdings in Goldcorp by 0.7% during the second quarter. Stifel Financial Corp now owns 58,951 shares of the basic materials company’s stock valued at $761,000 after acquiring an additional 430 shares during the period. 53.97% of the stock is currently owned by institutional investors.
Shares of Goldcorp Inc. (NYSE:GG) traded up 1.57% during trading on Friday, reaching $12.96. 6,238,298 shares of the company were exchanged. Goldcorp Inc. has a 1-year low of $11.91 and a 1-year high of $17.87. The firm has a 50-day moving average price of $13.22 and a 200-day moving average price of $13.84. The stock has a market capitalization of $11.21 billion, a P/E ratio of 23.78 and a beta of -0.02.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 22nd. Stockholders of record on Thursday, September 14th were issued a $0.02 dividend. The ex-dividend date was Wednesday, September 13th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.62%. Goldcorp’s payout ratio is 14.55%.
GG has been the topic of a number of recent analyst reports. Royal Bank Of Canada decreased their price target 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 cut Goldcorp from a “sell” rating to a “strong sell” rating in a report on Saturday, June 17th. TD Securities reissued a “buy” rating on shares of Goldcorp in a report on Thursday, June 15th. Morgan Stanley reissued an “overweight” rating on shares of Goldcorp in a report on Friday, July 21st. Finally, National Bank Financial cut Goldcorp from an “outperform” rating to a “sector perform” rating in a report on Monday, July 24th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $16.66.
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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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