Goldcorp (NYSE:GG) (TSE:G) had its price target cut by investment analysts at Citigroup from $16.00 to $14.00 in a research note issued on Wednesday. The brokerage currently has a “buy” rating on the basic materials company’s stock. Citigroup’s target price would indicate a potential upside of 25.79% from the stock’s previous close.

Several other equities analysts have also issued reports on the company. Jefferies Financial Group reiterated a “hold” rating and issued a $13.00 price target on shares of Goldcorp in a research note on Monday, August 6th. TheStreet lowered Goldcorp from a “b-” rating to a “c+” rating in a research note on Wednesday, August 1st. Scotiabank reiterated a “buy” rating and issued a $17.00 price target on shares of Goldcorp in a research note on Friday, July 27th. ValuEngine lowered Goldcorp from a “hold” rating to a “sell” rating in a research note on Monday, July 16th. Finally, Zacks Investment Research lowered Goldcorp from a “hold” rating to a “sell” rating in a research note on Tuesday, July 3rd. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Goldcorp currently has an average rating of “Buy” and an average price target of $17.09.

Goldcorp stock opened at $11.13 on Wednesday. Goldcorp has a one year low of $10.38 and a one year high of $15.55. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.57 and a current ratio of 1.01. The firm has a market cap of $9.69 billion, a price-to-earnings ratio of 27.83, a P/E/G ratio of 4.00 and a beta of -0.13.

Goldcorp (NYSE:GG) (TSE:G) last issued its quarterly earnings results on Wednesday, July 25th. The basic materials company reported $0.05 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by ($0.02). Goldcorp had a net margin of 8.61% and a return on equity of 1.97%. The business had revenue of $793.00 million during the quarter, compared to the consensus estimate of $871.54 million. During the same quarter in the previous year, the business posted $0.16 EPS. equities research analysts expect that Goldcorp will post 0.28 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the business. Bank of New York Mellon Corp lifted its stake in Goldcorp by 33.3% in the second quarter. Bank of New York Mellon Corp now owns 3,100,667 shares of the basic materials company’s stock valued at $42,510,000 after purchasing an additional 775,219 shares during the last quarter. Titus Wealth Management purchased a new position in Goldcorp in the second quarter valued at approximately $320,000. Bank of Nova Scotia lifted its stake in Goldcorp by 20.6% in the second quarter. Bank of Nova Scotia now owns 2,883,240 shares of the basic materials company’s stock valued at $39,423,000 after purchasing an additional 491,780 shares during the last quarter. Verition Fund Management LLC lifted its stake in Goldcorp by 116.5% in the second quarter. Verition Fund Management LLC now owns 42,133 shares of the basic materials company’s stock valued at $578,000 after purchasing an additional 22,676 shares during the last quarter. Finally, Centaurus Financial Inc. purchased a new position in Goldcorp in the second quarter valued at approximately $190,000. 53.92% of the stock is currently owned by hedge funds and other institutional investors.

Goldcorp Company Profile

Goldcorp Inc acquires, explores for, develops, and operates precious metal properties in Canada, the United States, Mexico, and Central and South America. It primarily explores for gold, silver, lead, zinc, and copper deposits. The company's principal producing mining properties include the Éléonore, Musselwhite, Porcupine, and Red Lake mines in Canada; the Peñasquito mine in Mexico; the Cerro Negro mine in Argentina; and the Pueblo Viejo mine in the Dominican Republic.

See Also: Google Finance Portfolio

Analyst Recommendations for Goldcorp (NYSE:GG)

Receive News & Ratings for Goldcorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Goldcorp and related companies with MarketBeat.com's FREE daily email newsletter.