Goldcorp Inc. (GG) Shares Down 2.5%
Shares of Goldcorp Inc. (NYSE:GG) traded down 2.5% on Friday . The company traded as low as $17.33 and last traded at $17.58, with a volume of 4,628,496 shares changing hands. The stock had previously closed at $18.03.
A number of analysts recently weighed in on the stock. Jefferies Group reissued a “hold” rating on shares of Goldcorp in a report on Thursday, April 28th. Royal Bank Of Canada reissued an “underperform” rating on shares of Goldcorp in a report on Wednesday, April 27th. Credit Suisse Group AG reaffirmed a “hold” rating on shares of Goldcorp in a report on Saturday, May 14th. Citigroup Inc. assumed coverage on shares of Goldcorp in a report on Tuesday, August 2nd. They set a “neutral” rating and a $20.00 target price for the company. Finally, Goldman Sachs Group Inc. lowered shares of Goldcorp from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $15.30 to $16.00 in a report on Wednesday, May 11th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $19.09.
The company has a 50 day moving average of $18.64 and a 200 day moving average of $16.69. The firm’s market cap is $14.89 billion.
Goldcorp (NYSE:GG) last released its quarterly earnings results on Wednesday, July 27th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by $0.12. The firm had revenue of $921 million for the quarter, compared to analysts’ expectations of $882.55 million. During the same period in the prior year, the firm earned $0.08 earnings per share. The business’s revenue was down 30.1% on a year-over-year basis. Equities analysts anticipate that Goldcorp Inc. will post $0.37 earnings per share for the current fiscal year.
Other institutional investors have added to or reduced their stakes in the company. Scheer Rowlett & Associates Investment Management Ltd. acquired a new position in Goldcorp during the fourth quarter valued at about $16,670,000. BNP Paribas Arbitrage SA increased its position in Goldcorp by 81.8% in the fourth quarter. BNP Paribas Arbitrage SA now owns 665,396 shares of the company’s stock valued at $7,692,000 after buying an additional 299,357 shares during the last quarter. Trexquant Investment LP increased its position in Goldcorp by 532.4% in the fourth quarter. Trexquant Investment LP now owns 341,472 shares of the company’s stock valued at $3,947,000 after buying an additional 287,472 shares during the last quarter. Wells Fargo & Company MN increased its position in Goldcorp by 9.4% in the fourth quarter. Wells Fargo & Company MN now owns 1,895,802 shares of the company’s stock valued at $21,916,000 after buying an additional 162,146 shares during the last quarter. Finally, Comerica Bank increased its position in Goldcorp by 17.0% in the fourth quarter. Comerica Bank now owns 89,746 shares of the company’s stock valued at $1,120,000 after buying an additional 13,033 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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