Goldcorp Inc. (GG) Shares Up 4.2%
Goldcorp Inc. (NYSE:GG) shares shot up 4.2% on Wednesday . The company traded as high as $19.01 and last traded at $18.87, with a volume of 6,656,377 shares trading hands. The stock had previously closed at $18.11.
GG has been the topic of a number of research reports. Morgan Stanley started coverage on shares of Goldcorp in a report on Tuesday. They issued an “overweight” rating and a $22.00 price target on the stock. Barclays PLC boosted their target price on shares of Goldcorp from $18.00 to $20.00 and gave the stock an “overweight” rating in a report on Monday. TD Securities restated a “hold” rating and issued a $21.00 target price (down from $23.00) on shares of Goldcorp in a report on Thursday, August 4th. Citigroup Inc. started coverage on shares of Goldcorp in a report on Tuesday, August 2nd. They issued a “neutral” rating and a $20.00 target price on the stock. Finally, BMO Capital Markets restated a “buy” rating and issued a $23.00 target price on shares of Goldcorp in a report on Thursday, July 28th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $19.50.
The stock’s market cap is $16.17 billion. The stock has a 50 day moving average price of $18.64 and a 200 day moving average price of $16.91.
Goldcorp (NYSE:GG) last issued its quarterly earnings results on Wednesday, July 27th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by $0.12. The company had revenue of $921 million for the quarter, compared to the consensus estimate of $882.55 million. The firm’s revenue was down 30.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.08 EPS. On average, analysts anticipate that Goldcorp Inc. will post $0.37 EPS for the current fiscal year.
Several institutional investors have made changes to their positions in the stock. 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 last quarter. 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 last quarter. 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 last quarter. 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 last quarter. Finally, Bridgewater Associates LP boosted its position in shares of Goldcorp by 38.0% in the fourth quarter. Bridgewater Associates LP now owns 1,226,822 shares of the company’s stock worth $14,182,000 after buying an additional 337,961 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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