Ninepoint Partners LP Takes Position in Goldcorp Inc. (GG)

Ninepoint Partners LP purchased a new stake in Goldcorp Inc. (NYSE:GG) (TSE:G) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 20,000 shares of the basic materials company’s stock, valued at approximately $259,000.

A number of other institutional investors also recently added to or reduced their stakes in the business. Commonwealth Equity Services Inc boosted its position in shares of Goldcorp by 16.3% during the 3rd quarter. Commonwealth Equity Services Inc now owns 40,614 shares of the basic materials company’s stock worth $526,000 after acquiring an additional 5,690 shares in the last quarter. Timber Hill LLC boosted its position in shares of Goldcorp by 476.3% during the 3rd quarter. Timber Hill LLC now owns 18,464 shares of the basic materials company’s stock worth $239,000 after acquiring an additional 23,371 shares in the last quarter. Russell Investments Group Ltd. boosted its position in shares of Goldcorp by 40.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,890,911 shares of the basic materials company’s stock worth $24,485,000 after acquiring an additional 547,352 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Goldcorp by 19.5% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,396,792 shares of the basic materials company’s stock worth $44,079,000 after acquiring an additional 553,619 shares in the last quarter. Finally, Comerica Bank boosted its position in shares of Goldcorp by 4.6% during the 3rd quarter. Comerica Bank now owns 101,246 shares of the basic materials company’s stock worth $1,355,000 after acquiring an additional 4,445 shares in the last quarter. 54.77% of the stock is currently owned by hedge funds and other institutional investors.

GG has been the topic of several analyst reports. Zacks Investment Research lowered shares of Goldcorp from a “hold” rating to a “sell” rating in a research report on Monday, October 9th. Morgan Stanley reiterated an “overweight” rating on shares of Goldcorp in a research report on Friday, July 21st. National Bank Financial upgraded shares of Goldcorp from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 26th. Scotiabank set a $18.00 price target on shares of Goldcorp and gave the stock an “outperform” rating in a research report on Thursday, July 27th. Finally, Canaccord Genuity upgraded shares of Goldcorp from a “hold” rating to a “buy” rating and set a $16.90 price target on the stock in a research report on Friday, September 29th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the stock. Goldcorp currently has a consensus rating of “Buy” and a consensus target price of $16.92.

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Shares of Goldcorp Inc. (NYSE GG) traded up $0.16 during midday trading on Friday, reaching $13.41. 9,280,000 shares of the company were exchanged, compared to its average volume of 6,070,000. Goldcorp Inc. has a fifty-two week low of $11.91 and a fifty-two week high of $17.87. The company has a market capitalization of $11,770.00, a P/E ratio of 24.98, a PEG ratio of 3.32 and a beta of -0.07. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.00 and a quick ratio of 0.69.

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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Institutional Ownership by Quarter for Goldcorp (NYSE:GG)

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