Brokers Issue Forecasts for Goldcorp Inc.’s Q4 2017 Earnings (G)
Goldcorp Inc. (TSE:G) (NYSE:GG) – Desjardins raised their Q4 2017 EPS estimates for Goldcorp in a report released on Wednesday. Desjardins analyst J. Wolfson now forecasts that the company will post earnings of $0.17 per share for the quarter, up from their previous forecast of $0.16. Desjardins currently has a “Hold” rating on the stock. Desjardins also issued estimates for Goldcorp’s FY2019 earnings at $0.88 EPS and FY2020 earnings at $0.97 EPS.
A number of other equities analysts have also commented on G. Canaccord Genuity raised shares of Goldcorp from a “hold” rating to a “buy” rating and increased their price target for the stock from C$19.50 to C$21.00 in a report on Friday, September 29th. National Bank Financial raised shares of Goldcorp from a “sector perform” rating to an “outperform” rating and set a C$24.00 target price on the stock in a report on Thursday, October 26th. Scotiabank reduced their target price on shares of Goldcorp to C$22.00 and set an “outperform” rating on the stock in a report on Tuesday, October 31st. Royal Bank of Canada raised shares of Goldcorp from a “sector perform” rating to an “outperform” rating and increased their target price for the company from C$15.00 to C$18.00 in a report on Wednesday, November 1st. Finally, JPMorgan Chase & Co. increased their target price on shares of Goldcorp from C$21.00 to C$23.60 in a report on Wednesday, November 15th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of C$21.26.
Goldcorp (TSE:G) (NYSE:GG) last issued its quarterly earnings results on Wednesday, October 25th. The company reported C$0.11 EPS for the quarter, hitting the Zacks’ consensus estimate of C$0.11. Goldcorp had a net margin of 12.82% and a return on equity of 3.20%.
In other news, insider Russell David Ball sold 2,000 shares of the firm’s stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of C$16.82, for a total value of C$33,640.00. Also, Director De La Vega Blanca Treviño bought 7,150 shares of the company’s stock in a transaction dated Friday, November 17th. The stock was bought at an average cost of C$13.45 per share, with a total value of C$96,167.50. Insiders have sold a total of 6,589 shares of company stock valued at $106,887 in the last three months.
The company also recently declared a quarterly dividend, which was paid on Friday, December 22nd. Shareholders of record on Friday, December 22nd were given a dividend of $0.02 per share. The ex-dividend date was Wednesday, December 13th. This represents a $0.08 annualized dividend and a yield of 0.45%. Goldcorp’s payout ratio is currently 10.67%.
Goldcorp Company Profile
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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