APG Asset Management N.V. Has $106.43 Million Position in Goldcorp Inc. (GG)
APG Asset Management N.V. reduced its position in shares of Goldcorp Inc. (NYSE:GG) (TSE:G) by 8.4% during the second quarter, Holdings Channel reports. The firm owned 6,365,385 shares of the basic materials company’s stock after selling 586,742 shares during the period. APG Asset Management N.V.’s holdings in Goldcorp were worth $106,429,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in GG. Bennicas & Associates Inc. boosted its stake in shares of Goldcorp by 0.8% in the first quarter. Bennicas & Associates Inc. now owns 115,560 shares of the basic materials company’s stock worth $1,686,000 after buying an additional 900 shares during the period. Cullinan Associates Inc. bought a new stake in shares of Goldcorp during the first quarter worth $322,000. Berkshire Asset Management LLC PA boosted its stake in shares of Goldcorp by 12.5% in the first quarter. Berkshire Asset Management LLC PA now owns 56,250 shares of the basic materials company’s stock worth $821,000 after buying an additional 6,250 shares during the period. Winslow Evans & Crocker Inc. boosted its stake in shares of Goldcorp by 1.3% in the first quarter. Winslow Evans & Crocker Inc. now owns 24,252 shares of the basic materials company’s stock worth $354,000 after buying an additional 312 shares during the period. Finally, Edge Wealth Management LLC boosted its stake in shares of Goldcorp by 224.5% in the first quarter. Edge Wealth Management LLC now owns 24,000 shares of the basic materials company’s stock worth $352,000 after buying an additional 16,605 shares during the period. Hedge funds and other institutional investors own 56.62% of the company’s stock.
Shares of Goldcorp Inc. (NYSE:GG) traded up 0.30% during midday trading on Tuesday, hitting $13.47. The company’s stock had a trading volume of 1,924,387 shares. Goldcorp Inc. has a 1-year low of $11.91 and a 1-year high of $19.35. The company has a 50-day moving average price of $13.27 and a 200 day moving average price of $14.64. The company has a market cap of $11.53 billion, a P/E ratio of 46.13 and a beta of 0.02.
Goldcorp (NYSE:GG) (TSE:G) last announced its quarterly earnings data on Wednesday, April 26th. The basic materials company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.11. The company had revenue of $882 million for the quarter, compared to the consensus estimate of $929.91 million. Goldcorp had a return on equity of 2.72% and a net margin of 7.31%. During the same period in the previous year, the business earned $0.10 EPS. On average, equities research analysts predict that Goldcorp Inc. will post $0.37 EPS for the current year.
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A number of analysts have weighed in on the company. Jefferies Group LLC upped their price target on Goldcorp from $14.50 to $15.00 and gave the company a “hold” rating in a research report on Wednesday, April 19th. Scotiabank reissued an “outperform” rating and issued a $19.00 price objective on shares of Goldcorp in a research note on Thursday, April 27th. Morgan Stanley reissued an “overweight” rating and issued a $17.00 price objective on shares of Goldcorp in a research note on Monday, May 1st. Deutsche Bank AG reissued a “hold” rating and issued a $15.00 price objective (down previously from $16.00) on shares of Goldcorp in a research note on Sunday, June 25th. Finally, National Bank Financial lowered Goldcorp from an “outperform” rating to a “sector perform” rating in a research note on Monday. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Goldcorp currently has a consensus rating of “Hold” and an average target price of $17.27.
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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