Goldcorp Inc. (GG) Shares Up 2.2%
Shares of Goldcorp Inc. (NYSE:GG) shot up 2.2% during mid-day trading on Thursday . The company traded as high as $15.71 and last traded at $15.58, with a volume of 5,965,101 shares. The stock had previously closed at $15.24.
A number of research firms have recently issued reports on GG. Credit Suisse Group AG restated a “hold” rating on shares of Goldcorp in a research note on Saturday, May 14th. Vetr upgraded shares of Goldcorp from a “sell” rating to a “hold” rating and set a $16.25 target price for the company in a research note on Monday, May 30th. Zacks Investment Research upgraded shares of Goldcorp from a “hold” rating to a “buy” rating and set a $22.00 target price for the company in a research note on Tuesday, July 12th. Goldman Sachs Group Inc. cut shares of Goldcorp from a “buy” rating to a “neutral” rating and raised their target price for the stock from $15.30 to $16.00 in a research note on Wednesday, May 11th. Finally, Jefferies Group restated a “hold” rating on shares of Goldcorp in a research note on Wednesday, June 8th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $19.59.
The firm’s market cap is $13.32 billion. The firm has a 50 day moving average price of $18.00 and a 200-day moving average price of $17.43.
Goldcorp (NYSE:GG) last released its earnings results on Wednesday, July 27th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.03 by $0.12. The business had revenue of $921 million for the quarter, compared to analysts’ expectations of $882.55 million. The firm’s revenue for the quarter was down 30.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.08 earnings per share. On average, equities research analysts predict that Goldcorp Inc. will post $0.37 earnings per share for the current fiscal year.
An institutional investor recently raised its position in Goldcorp stock. BNP Paribas Arbitrage SA increased its stake in shares of Goldcorp Inc. (NYSE:GG) by 81.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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 as of its most recent filing with the SEC.
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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