1,661,499 Shares in Goldcorp Inc. (GG) Purchased by Renaissance Technologies LLC
Renaissance Technologies LLC acquired a new stake in shares of Goldcorp Inc. (NYSE:GG) (TSE:G) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 1,661,499 shares of the basic materials company’s stock, valued at approximately $21,450,000. Renaissance Technologies LLC owned 0.19% of Goldcorp at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. 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 valued at $123,000 after acquiring an additional 3,000 shares during the period. BB&T Securities LLC bought a new stake in shares of Goldcorp during the 1st quarter valued at $161,000. Bourgeon Capital Management LLC bought a new stake in shares of Goldcorp during the 2nd quarter valued at $161,000. First Financial Equity Corporation bought a new stake in shares of Goldcorp during the 1st quarter valued at $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 valued at $168,000 after acquiring an additional 300 shares during the period. 53.97% of the stock is owned by hedge funds and other institutional investors.
Shares of Goldcorp Inc. (NYSE GG) opened at 13.36 on Thursday. The stock has a market cap of $11.56 billion, a PE ratio of 24.51 and a beta of -0.07. Goldcorp Inc. has a 52 week low of $11.91 and a 52 week high of $17.87. The firm has a 50-day moving average of $13.31 and a 200 day moving average of $13.60.
The company also recently declared a quarterly dividend, which was paid on Friday, September 22nd. Investors of record on Thursday, September 14th were given a dividend of $0.02 per share. The ex-dividend date was Wednesday, September 13th. This represents a $0.08 annualized dividend and a yield of 0.60%. Goldcorp’s dividend payout ratio is presently 14.55%.
Several brokerages recently weighed in on GG. Deutsche Bank AG reaffirmed a “hold” rating and issued a $15.00 target price (down previously from $16.00) on shares of Goldcorp in a report on Sunday, June 25th. Scotiabank set a $18.00 target price on shares of Goldcorp and gave the stock an “outperform” rating in a report on Thursday, July 27th. National Bank Financial downgraded shares of Goldcorp from an “outperform” rating to a “sector perform” rating in a report on Monday, July 24th. BidaskClub raised shares of Goldcorp from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 27th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Goldcorp in a report on Friday, July 21st. One 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’s stock. Goldcorp has a consensus rating of “Hold” and an average target price of $16.66.
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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