Goldcorp Inc. (GG) Stake Reduced by Prospera Financial Services Inc
Prospera Financial Services Inc cut its stake in Goldcorp Inc. (NYSE:GG) by 4.3% during the second quarter, Holdings Channel reports. The fund owned 127,491 shares of the company’s stock after selling 5,669 shares during the period. Prospera Financial Services Inc’s holdings in Goldcorp were worth $2,439,000 as of its most recent filing with the SEC.
Other large investors also recently modified their holdings of the company. Smith Affiliated Capital Corp. raised its stake in shares of Goldcorp by 95.7% in the second quarter. Smith Affiliated Capital Corp. now owns 6,900 shares of the company’s stock valued at $132,000 after buying an additional 3,374 shares during the last quarter. Acadian Asset Management LLC bought a new stake in shares of Goldcorp during the second quarter valued at approximately $192,000. Stock Yards Bank & Trust Co. bought a new stake in shares of Goldcorp during the second quarter valued at approximately $224,000. BARING ASSET MANAGEMENT Ltd raised its stake in shares of Goldcorp by 15.4% in the second quarter. BARING ASSET MANAGEMENT Ltd now owns 13,418 shares of the company’s stock valued at $257,000 after buying an additional 1,787 shares during the last quarter. Finally, Simmons Bank bought a new stake in shares of Goldcorp during the first quarter valued at approximately $233,000. 60.40% of the stock is owned by institutional investors.
Shares of Goldcorp Inc. (NYSE:GG) traded up 1.54% during mid-day trading on Thursday, reaching $17.09. 9,442,867 shares of the company’s stock were exchanged. The stock has a 50 day moving average price of $16.98 and a 200 day moving average price of $17.54. The stock’s market cap is $14.58 billion. Goldcorp Inc. has a 52 week low of $9.46 and a 52 week high of $20.38.
Goldcorp (NYSE:GG) last announced its quarterly earnings results on Wednesday, July 27th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by $0.12. Goldcorp had a negative net margin of 115.33% and a negative return on equity of 0.71%. The firm earned $921 million during the quarter, compared to analysts’ expectations of $882.55 million. During the same quarter in the prior year, the business earned $0.08 EPS. The company’s quarterly revenue was down 30.1% compared to the same quarter last year. Equities research analysts predict that Goldcorp Inc. will post $0.36 EPS for the current year.
Several equities research analysts recently commented on the stock. Vetr raised shares of Goldcorp from a “sell” rating to a “hold” rating and set a $16.25 target price on the stock in a research note on Monday, May 30th. Zacks Investment Research raised shares of Goldcorp from a “hold” rating to a “buy” rating and set a $22.00 target price on the stock in a research note on Tuesday, July 12th. Jefferies Group reaffirmed a “hold” rating on shares of Goldcorp in a research note on Wednesday, June 8th. Desjardins cut shares of Goldcorp from a “buy” rating to a “hold” rating in a research note on Wednesday, July 13th. Finally, Barclays PLC lifted their target price on shares of Goldcorp from $18.00 to $20.00 and gave the stock an “overweight” rating in a research note on Monday, August 8th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $19.36.
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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