Goldcorp Inc. (GG) Trading Down 2.5%
Goldcorp Inc. (NYSE:GG) was down 2.5% during mid-day trading on Friday . The stock traded as low as $17.33 and last traded at $17.58, with a volume of 4,628,496 shares. The stock had previously closed at $18.03.
Several equities research analysts recently issued reports on GG shares. Vetr cut Goldcorp from a “strong-buy” rating to a “strong sell” rating and set a $16.25 price objective on the stock. in a report on Tuesday, May 17th. HSBC reiterated a “buy” rating on shares of Goldcorp in a report on Thursday, July 7th. Royal Bank Of Canada cut Goldcorp from a “sector perform” rating to an “underperform” rating and lifted their price objective for the stock from $12.00 to $16.50 in a report on Monday, April 11th. Jefferies Group reiterated a “hold” rating on shares of Goldcorp in a report on Wednesday, June 8th. Finally, Zacks Investment Research cut Goldcorp from a “buy” rating to a “hold” rating in a report on Wednesday, June 29th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $19.09.
The stock’s market cap is $14.89 billion. The stock’s 50 day moving average price is $18.64 and its 200 day moving average price is $16.69.
Goldcorp (NYSE:GG) last issued its earnings results on Wednesday, July 27th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.03 by $0.12. The business had revenue of $921 million for the quarter, compared to the consensus estimate of $882.55 million. The company’s quarterly revenue was down 30.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.08 earnings per share. On average, equities research analysts expect that Goldcorp Inc. will post $0.38 EPS for the current year.
Other hedge funds and institutional investors have modified their holdings of the company. Comerica Bank boosted its position in shares of Goldcorp by 17.0% in the fourth quarter. Comerica Bank now owns 89,746 shares of the company’s stock worth $1,120,000 after buying an additional 13,033 shares during the period. Airain ltd boosted its position in shares of 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 period. Gulf International Bank UK Ltd boosted its position in shares of 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 period. Trexquant Investment LP boosted its position in shares of 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 period. Finally, BNP Paribas Arbitrage SA boosted its position in shares of 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 period.
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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