Goldcorp Inc. (GG) to Post FY2018 Earnings of $0.08 Per Share, Jefferies Financial Group Forecasts
Goldcorp Inc. (NYSE:GG) (TSE:G) – Research analysts at Jefferies Financial Group lowered their FY2018 earnings per share estimates for Goldcorp in a note issued to investors on Thursday, October 25th. Jefferies Financial Group analyst C. Lafemina now forecasts that the basic materials company will post earnings per share of $0.08 for the year, down from their prior estimate of $0.16. Jefferies Financial Group currently has a “Hold” rating and a $11.50 price target on the stock. Jefferies Financial Group also issued estimates for Goldcorp’s FY2020 earnings at $0.58 EPS.
Several other equities research analysts have also weighed in on GG. ValuEngine lowered Goldcorp from a “hold” rating to a “sell” rating in a report on Monday, July 16th. Zacks Investment Research lowered Goldcorp from a “hold” rating to a “sell” rating in a report on Tuesday, July 3rd. Canaccord Genuity restated a “buy” rating on shares of Goldcorp in a report on Thursday. Scotiabank set a $13.00 target price on Goldcorp and gave the stock a “buy” rating in a report on Friday. Finally, JPMorgan Chase & Co. reduced their target price on Goldcorp from $18.00 to $16.00 and set an “overweight” rating for the company in a report on Monday, September 17th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Goldcorp presently has an average rating of “Hold” and a consensus price target of $15.65.
Goldcorp (NYSE:GG) (TSE:G) last posted its earnings results on Wednesday, October 24th. The basic materials company reported ($0.08) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.02) by ($0.06). Goldcorp had a return on equity of 0.97% and a net margin of 2.47%. The company had revenue of $621.00 million during the quarter, compared to analyst estimates of $714.46 million.
Large investors have recently made changes to their positions in the business. Boston Partners bought a new stake in Goldcorp in the second quarter valued at $174,000. First Manhattan Co. bought a new stake in Goldcorp in the third quarter valued at $133,000. Centaurus Financial Inc. bought a new stake in Goldcorp in the second quarter valued at $190,000. Edgestream Partners L.P. bought a new stake in Goldcorp in the second quarter valued at $231,000. Finally, Brave Asset Management Inc. bought a new stake in Goldcorp in the third quarter valued at $220,000. Hedge funds and other institutional investors own 53.97% of the company’s stock.
Goldcorp Inc acquires, explores for, develops, and operates precious metal properties in Canada, the United States, Mexico, and Central and South America. It primarily explores for gold, silver, lead, zinc, and copper deposits. The company's principal producing mining properties include the Éléonore, Musselwhite, Porcupine, and Red Lake mines in Canada; the Peñasquito mine in Mexico; the Cerro Negro mine in Argentina; and the Pueblo Viejo mine in the Dominican Republic.
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