IHT Wealth Management LLC Buys New Holdings in Goldcorp Inc. (GG)
IHT Wealth Management LLC bought a new stake in shares of Goldcorp Inc. (NYSE:GG) (TSE:G) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 514 shares of the basic materials company’s stock, valued at approximately $1,441,000. Goldcorp accounts for about 0.7% of IHT Wealth Management LLC’s portfolio, making the stock its 24th biggest holding.
Other hedge funds have also modified their holdings of the company. Nomura Asset Management Co. Ltd. raised its holdings in 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 valued at $123,000 after acquiring an additional 3,000 shares during the period. First Allied Advisory Services Inc. bought a new position in shares of Goldcorp in the second quarter worth $155,000. BB&T Securities LLC bought a new position in shares of Goldcorp in the first quarter worth $161,000. Bourgeon Capital Management LLC bought a new position in shares of Goldcorp in the second quarter worth $161,000. Finally, First Financial Equity Corporation bought a new position in shares of Goldcorp in the first quarter worth $162,000. 53.97% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts have recently weighed in on GG shares. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $16.00 price target on shares of Goldcorp in a report on Tuesday, June 13th. TD Securities reaffirmed a “buy” rating on shares of Goldcorp in a report on Thursday, June 15th. Raymond James Financial, Inc. reaffirmed a “market perform” rating and issued a $17.00 price target on shares of Goldcorp in a report on Thursday, June 15th. BidaskClub cut shares of Goldcorp from a “sell” rating to a “strong sell” rating in a report on Saturday, June 17th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $15.00 price target on shares of Goldcorp in a report on Wednesday, June 21st. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the company. Goldcorp presently has an average rating of “Hold” and a consensus price target of $16.66.
Goldcorp Inc. (GG) traded up 0.30% during trading on Friday, reaching $13.30. 4,377,531 shares of the company were exchanged. The company’s 50-day moving average price is $13.27 and its 200-day moving average price is $13.67. The stock has a market capitalization of $11.50 billion, a P/E ratio of 24.40 and a beta of -0.07. Goldcorp Inc. has a 1-year low of $11.91 and a 1-year high of $17.87.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 22nd. Shareholders of record on Thursday, September 14th were given a $0.02 dividend. The ex-dividend date of this dividend was Wednesday, September 13th. This represents a $0.08 annualized dividend and a yield of 0.60%. Goldcorp’s dividend payout ratio (DPR) is 14.55%.
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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