Bank of Nova Scotia Sells 197,872 Shares of Goldcorp Inc. (GG)
Bank of Nova Scotia reduced its holdings in Goldcorp Inc. (NYSE:GG) (TSE:G) by 9.6% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 1,870,014 shares of the basic materials company’s stock after selling 197,872 shares during the quarter. Bank of Nova Scotia owned approximately 0.21% of Goldcorp worth $24,126,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. IHT Wealth Management LLC acquired a new position in Goldcorp in the 2nd quarter valued at approximately $1,441,000. Nomura Asset Management Co. Ltd. increased its position in Goldcorp by 55.6% in the 1st quarter. Nomura Asset Management Co. Ltd. now owns 8,400 shares of the basic materials company’s stock valued at $123,000 after acquiring an additional 3,000 shares during the period. First Financial Equity Corporation acquired a new position in Goldcorp in the 1st quarter valued at approximately $162,000. BB&T Securities LLC acquired a new position in Goldcorp in the 1st quarter valued at approximately $161,000. Finally, Highlander Capital Management LLC increased its position in Goldcorp by 4.7% in the 2nd quarter. Highlander Capital Management LLC now owns 11,125 shares of the basic materials company’s stock valued at $142,000 after acquiring an additional 500 shares during the period. Hedge funds and other institutional investors own 53.97% of the company’s stock.
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Shares of Goldcorp Inc. (NYSE GG) traded down 0.45% on Wednesday, reaching $13.24. 1,130,527 shares of the company traded hands. Goldcorp Inc. has a one year low of $11.91 and a one year high of $17.87. The stock has a market capitalization of $11.60 billion, a P/E ratio of 45.66 and a beta of -0.07. The stock’s 50 day moving average price is $13.30 and its 200-day moving average price is $13.61.
The company also recently announced a quarterly dividend, which was paid on Friday, September 22nd. Investors of record on Thursday, September 14th were paid a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.60%. The ex-dividend date of this dividend was Wednesday, September 13th. Goldcorp’s payout ratio is 14.55%.
Several brokerages have issued reports on GG. TD Securities decreased their price target on shares of Goldcorp from $21.00 to $20.00 and set a “buy” rating for the company in a research report on Friday, August 4th. BidaskClub upgraded shares of Goldcorp from a “sell” rating to a “hold” rating in a research report on Friday, August 11th. HC Wainwright restated a “buy” rating on shares of Goldcorp in a research report on Monday, September 25th. Royal Bank Of Canada decreased their price target on shares of Goldcorp from $16.00 to $15.00 and set a “sector perform” rating for the company in a research report on Tuesday, August 15th. Finally, Jefferies Group LLC set a $13.00 price target on shares of Goldcorp and gave the company a “hold” rating in a research report on Tuesday, August 15th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $16.66.
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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