Goldcorp Sees Unusually High Options Volume (GG)
Goldcorp Inc. (NYSE:GG) (TSE:G) was the recipient of unusually large options trading on Tuesday. Stock investors bought 4,401 put options on the company. This represents an increase of 116% compared to the average daily volume of 2,038 put options.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in GG. FMR LLC increased its stake in shares of Goldcorp by 163.8% in the 1st quarter. FMR LLC now owns 17,612,338 shares of the basic materials company’s stock valued at $256,931,000 after buying an additional 10,937,064 shares during the period. Majedie Asset Management Ltd increased its stake in shares of Goldcorp by 246.3% in the 2nd quarter. Majedie Asset Management Ltd now owns 8,195,649 shares of the basic materials company’s stock valued at $105,806,000 after buying an additional 5,828,676 shares during the period. CIBC World Markets Inc. increased its stake in shares of Goldcorp by 91.2% in the 2nd quarter. CIBC World Markets Inc. now owns 10,717,490 shares of the basic materials company’s stock valued at $138,363,000 after buying an additional 5,112,943 shares during the period. Greystone Managed Investments Inc. acquired a new stake in shares of Goldcorp in the 2nd quarter valued at $26,496,000. Finally, Renaissance Technologies LLC acquired a new stake in shares of Goldcorp in the 2nd quarter valued at $21,450,000. 53.97% of the stock is owned by institutional investors.
A number of research analysts recently commented on GG shares. BidaskClub downgraded Goldcorp from a “sell” rating to a “strong sell” rating in a research note on Saturday, June 17th. Raymond James Financial, Inc. reissued a “market perform” rating and issued a $17.00 price target on shares of Goldcorp in a research note on Thursday, June 15th. Jefferies Group LLC reissued a “hold” rating and issued a $13.00 price target (down previously from $15.00) on shares of Goldcorp in a research note on Friday, July 14th. Scotiabank set a $18.00 price target on Goldcorp and gave the stock an “outperform” rating in a research note on Thursday, July 27th. Finally, Deutsche Bank AG reissued a “hold” rating and issued a $15.00 price target (down previously from $16.00) on shares of Goldcorp in a research note on Sunday, June 25th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the company’s stock. Goldcorp presently has a consensus rating of “Hold” and a consensus price target of $16.66.
Shares of Goldcorp (NYSE:GG) opened at 13.26 on Friday. Goldcorp has a one year low of $11.91 and a one year high of $17.87. The firm has a market cap of $11.47 billion, a price-to-earnings ratio of 24.33 and a beta of -0.07. The stock has a 50 day moving average price of $13.27 and a 200 day moving average price of $13.69.
The company also recently announced a quarterly dividend, which was paid on Friday, September 22nd. Stockholders of record on Thursday, September 14th were paid a $0.02 dividend. The ex-dividend date of this dividend was Wednesday, September 13th. This represents a $0.08 annualized dividend and a dividend yield of 0.60%. Goldcorp’s dividend payout ratio (DPR) is currently 14.55%.
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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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