Goldcorp Inc. (NYSE:GG) shares dropped 3.2% during mid-day trading on Tuesday . The company traded as low as $15.76 and last traded at $15.79, with a volume of 4,954,498 shares. The stock had previously closed at $16.32.

GG has been the subject of a number of research analyst reports. Goldman Sachs Group Inc. cut shares of Goldcorp from a “buy” rating to a “neutral” rating and raised 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. Vetr cut 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. Jefferies Group reaffirmed a “hold” rating on shares of Goldcorp in a report on Wednesday, June 8th. Finally, Desjardins raised shares of Goldcorp from a “hold” rating to a “buy” rating in a report on Wednesday, June 22nd. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $19.59.

The stock’s 50 day moving average is $18.25 and its 200 day moving average is $17.45. The company’s market cap is $13.20 billion.

Goldcorp (NYSE:GG) last issued its quarterly earnings results on Wednesday, July 27th. The company reported ($0.09) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.03 by $0.12. The company had revenue of $921 million for the quarter, compared to analysts’ expectations of $882.55 million. Goldcorp’s revenue for the quarter was down 30.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.08 EPS. Equities research analysts forecast that Goldcorp Inc. will post $0.37 EPS for the current year.

An institutional investor recently raised its position in Goldcorp stock. BNP Paribas Arbitrage SA raised its position in Goldcorp Inc. (NYSE:GG) by 81.8% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 665,396 shares of the company’s stock after buying an additional 299,357 shares during the period. BNP Paribas Arbitrage SA owned approximately 0.08% of Goldcorp worth $7,692,000 at the end of the most recent 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.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with's FREE daily email newsletter.