Goldcorp Inc. (GG) Trading 4.2% Higher
Shares of Goldcorp Inc. (NYSE:GG) rose 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 traded. The stock had previously closed at $18.11.
GG has been the subject of a number of recent analyst reports. Royal Bank Of Canada reaffirmed an “underperform” rating on shares of Goldcorp in a report on Wednesday, April 27th. Jefferies Group reaffirmed a “hold” rating on shares of Goldcorp in a report on Thursday, April 28th. Goldman Sachs Group Inc. downgraded shares of Goldcorp from a “buy” rating to a “neutral” rating and upped their price target for the stock from $15.30 to $16.00 in a report on Wednesday, May 11th. Credit Suisse Group AG reaffirmed a “hold” rating on shares of Goldcorp in a report on Saturday, May 14th. Finally, Vetr downgraded shares of Goldcorp from a “strong-buy” rating to a “strong sell” rating and set a $16.25 price target for the company. in a report on Tuesday, May 17th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $19.59.
The company’s 50 day moving average price is $18.71 and its 200-day moving average price is $16.93. The stock’s market cap is $16.10 billion.
Goldcorp (NYSE:GG) last released its quarterly earnings data on Wednesday, July 27th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by $0.12. During the same period in the prior year, the business earned $0.08 EPS. The firm had revenue of $921 million for the quarter, compared to the consensus estimate of $882.55 million. The company’s revenue for the quarter was down 30.1% compared to the same quarter last year. On average, equities research analysts anticipate that Goldcorp Inc. will post $0.38 earnings per share for the current year.
A number of large investors recently made changes to their positions in the stock. Bridgewater Associates LP raised its stake 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 valued at $14,182,000 after buying an additional 337,961 shares during the last quarter. Scheer Rowlett & Associates Investment Management Ltd. bought a new stake in shares of Goldcorp during the fourth quarter valued at about $16,670,000. Airain ltd raised its stake in shares of Goldcorp by 2.1% in the fourth quarter. Airain ltd now owns 220,384 shares of the company’s stock valued at $2,548,000 after buying an additional 4,496 shares during the last quarter. BNP Paribas Arbitrage SA raised its stake 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 valued at $7,692,000 after buying an additional 299,357 shares during the last quarter. Finally, Trexquant Investment LP raised its stake in shares of 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.
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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