Goldcorp Inc. (GG) Shares Down 3.2%
Goldcorp Inc. (NYSE:GG)’s share price 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 traded. The stock had previously closed at $16.32.
GG has been the subject of a number of recent research reports. Jefferies Group reissued a “hold” rating on shares of Goldcorp in a report on Wednesday, June 8th. Vetr lowered Goldcorp from a “strong-buy” rating to a “strong sell” rating and set a $16.25 price target on the stock. in a research report on Tuesday, May 17th. Deutsche Bank AG restated a “sell” rating on shares of Goldcorp in a research report on Wednesday, July 20th. Zacks Investment Research upgraded Goldcorp from a “hold” rating to a “buy” rating and set a $21.00 price target on the stock in a research report on Tuesday, June 28th. Finally, TD Securities restated a “hold” rating and set a $23.00 price target on shares of Goldcorp in a research report on Monday, July 25th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $19.59.
The company has a 50 day moving average of $18.00 and a 200 day moving average of $17.43. The firm’s market cap is $13.27 billion.
Goldcorp (NYSE:GG) last announced its quarterly earnings data on Wednesday, July 27th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.03 by $0.12. During the same period in the prior year, the company posted $0.08 EPS. The business had revenue of $921 million for the quarter, compared to analyst estimates of $882.55 million. Goldcorp’s quarterly revenue was down 30.1% on a year-over-year basis. On average, analysts expect that Goldcorp Inc. will post $0.37 earnings per share for the current fiscal year.
A hedge fund recently raised its stake in Goldcorp stock. BNP Paribas Arbitrage SA boosted its stake in shares of Goldcorp Inc. (NYSE:GG) by 81.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. 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 about 0.08% of Goldcorp worth $7,692,000 at the end of the most recent reporting period.
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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