Goldcorp Inc. (NYSE:GG) dropped 4.4% during trading on Wednesday . The stock traded as low as $18.05 and last traded at $18.23, with a volume of 6,487,789 shares traded. The stock had previously closed at $19.06.

A number of research firms have recently issued reports on GG. Jefferies Group increased their target price on Goldcorp to $17.00 in a research note on Wednesday, March 30th. CIBC increased their target price on Goldcorp from $16.50 to $17.50 in a research note on Friday, April 8th. Desjardins raised Goldcorp from a “hold” rating to a “buy” rating in a report on Wednesday, June 22nd. Zacks Investment Research raised Goldcorp from a “hold” rating to a “buy” rating and set a $21.00 price target for the company in a report on Tuesday, June 28th. Finally, HSBC reissued a “buy” rating on shares of Goldcorp in a report on Thursday, July 7th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $18.12.

The firm has a 50 day moving average of $18.62 and a 200-day moving average of $16.21. The company’s market capitalization is $15.11 billion.

Goldcorp (NYSE:GG) last released its quarterly earnings data on Wednesday, April 27th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.06. The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $953.42 million. The firm’s revenue for the quarter was down 9.0% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.11) earnings per share. On average, equities research analysts anticipate that Goldcorp Inc. will post $0.40 earnings per share for the current year.

A number of large investors recently added to or reduced their stakes in the stock. Airain ltd increased its stake in Goldcorp by 2.1% in the fourth quarter. Airain ltd now owns 220,384 shares of the company’s stock worth $2,548,000 after buying an additional 4,496 shares during the last quarter. BNP Paribas Arbitrage SA increased its stake in Goldcorp by 81.8% in the fourth quarter. BNP Paribas Arbitrage SA now owns 665,396 shares of the company’s stock worth $7,692,000 after buying an additional 299,357 shares during the last quarter. Trexquant Investment LP increased its stake in Goldcorp by 532.4% in the fourth quarter. Trexquant Investment LP now owns 341,472 shares of the company’s stock worth $3,947,000 after buying an additional 287,472 shares during the last quarter. Wells Fargo & Company MN increased its stake in Goldcorp by 9.4% in the fourth quarter. Wells Fargo & Company MN now owns 1,895,802 shares of the company’s stock worth $21,916,000 after buying an additional 162,146 shares during the last quarter. Finally, Gulf International Bank UK Ltd increased its stake in Goldcorp by 4.8% in the fourth quarter. Gulf International Bank UK Ltd now owns 245,242 shares of the company’s stock worth $2,836,000 after buying an additional 11,160 shares during the last quarter.

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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