Majedie Asset Management Ltd Has $110.35 Million Position in Goldcorp Inc. (GG)

Majedie Asset Management Ltd increased its holdings in Goldcorp Inc. (NYSE:GG) (TSE:G) by 3.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,514,498 shares of the basic materials company’s stock after acquiring an additional 318,849 shares during the quarter. Goldcorp comprises approximately 9.0% of Majedie Asset Management Ltd’s portfolio, making the stock its 3rd biggest position. Majedie Asset Management Ltd owned 0.98% of Goldcorp worth $110,348,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Highlander Capital Management LLC raised its holdings in Goldcorp by 4.7% in the second quarter. Highlander Capital Management LLC now owns 11,125 shares of the basic materials company’s stock worth $142,000 after purchasing an additional 500 shares in the last quarter. First Allied Advisory Services Inc. bought a new position in Goldcorp in the second quarter worth $155,000. Bourgeon Capital Management LLC bought a new position in Goldcorp in the second quarter worth $161,000. Koch Industries Inc. bought a new position in Goldcorp in the second quarter worth $163,000. Finally, First Interstate Bank raised its holdings in Goldcorp by 2.4% in the second quarter. First Interstate Bank now owns 13,050 shares of the basic materials company’s stock worth $168,000 after purchasing an additional 300 shares in the last quarter. 53.83% of the stock is owned by institutional investors.

A number of research firms have issued reports on GG. HSBC Holdings PLC downgraded Goldcorp from a “buy” rating to a “hold” rating and set a $14.80 price objective for the company. in a report on Wednesday. J P Morgan Chase & Co increased their price objective on Goldcorp from $16.00 to $18.00 and gave the stock an “overweight” rating in a report on Wednesday, November 15th. Royal Bank Of Canada upgraded Goldcorp from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from $15.00 to $18.00 in a report on Wednesday, November 1st. Scotiabank decreased their price objective on Goldcorp from $18.00 to $17.00 and set an “outperform” rating for the company in a report on Monday, October 30th. Finally, National Bank Financial upgraded Goldcorp from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 26th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Goldcorp presently has a consensus rating of “Hold” and an average target price of $16.76.

Shares of Goldcorp Inc. (NYSE:GG) traded up $0.13 during trading hours on Thursday, hitting $13.36. The stock had a trading volume of 7,669,500 shares, compared to its average volume of 7,446,269. Goldcorp Inc. has a 1 year low of $11.91 and a 1 year high of $17.87. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.00 and a quick ratio of 0.69. The company has a market capitalization of $11,470.41, a P/E ratio of 24.96, a PEG ratio of 3.35 and a beta of -0.07.

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About Goldcorp

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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