Goldcorp (GG) Expected to Announce Earnings of $0.10 Per Share

Wall Street brokerages predict that Goldcorp (NYSE:GG) (TSE:G) will report earnings of $0.10 per share for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Goldcorp’s earnings. The highest EPS estimate is $0.13 and the lowest is $0.08. Goldcorp reported earnings of $0.20 per share in the same quarter last year, which indicates a negative year-over-year growth rate of 50%. The business is scheduled to report its next quarterly earnings report after the market closes on Wednesday, April 25th.

According to Zacks, analysts expect that Goldcorp will report full year earnings of $0.46 per share for the current financial year, with EPS estimates ranging from $0.35 to $0.60. For the next financial year, analysts expect that the firm will post earnings of $0.70 per share, with EPS estimates ranging from $0.50 to $0.85. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research firms that follow Goldcorp.

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Goldcorp (NYSE:GG) (TSE:G) last released its quarterly earnings results on Wednesday, February 14th. The basic materials company reported $0.10 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by ($0.01). Goldcorp had a net margin of 19.22% and a return on equity of 3.08%. The business had revenue of $853.00 million during the quarter, compared to analyst estimates of $869.94 million.

Several equities analysts recently commented on the stock. Deutsche Bank upped their price target on shares of Goldcorp from $16.00 to $16.50 and gave the company a “hold” rating in a research note on Wednesday, April 11th. Zacks Investment Research upgraded shares of Goldcorp from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a research note on Monday, January 8th. Scotiabank set a $18.00 price target on shares of Goldcorp and gave the company a “buy” rating in a research note on Tuesday, January 16th. Canaccord Genuity downgraded shares of Goldcorp from a “buy” rating to a “hold” rating in a research note on Wednesday, January 17th. Finally, Jefferies Group set a $16.00 price target on shares of Goldcorp and gave the company a “hold” rating in a research note on Tuesday, January 16th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $17.62.

Shares of GG stock traded down $0.03 on Tuesday, hitting $14.34. The company’s stock had a trading volume of 2,711,441 shares, compared to its average volume of 7,701,879. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.56 and a current ratio of 0.91. Goldcorp has a fifty-two week low of $11.64 and a fifty-two week high of $15.55. The company has a market capitalization of $12,494.38, a PE ratio of 35.85, a price-to-earnings-growth ratio of 3.20 and a beta of 0.06.

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 23rd. Shareholders of record on Thursday, March 15th were paid a dividend of $0.02 per share. The ex-dividend date of this dividend was Wednesday, March 14th. This represents a $0.08 dividend on an annualized basis and a yield of 0.56%. Goldcorp’s payout ratio is 20.00%.

A number of institutional investors have recently made changes to their positions in GG. CIBC Asset Management Inc grew its stake in Goldcorp by 40.6% during the fourth quarter. CIBC Asset Management Inc now owns 16,700,712 shares of the basic materials company’s stock worth $213,869,000 after buying an additional 4,824,114 shares in the last quarter. Amundi Pioneer Asset Management Inc. bought a new position in shares of Goldcorp in the fourth quarter worth about $34,205,000. Alps Advisors Inc. bought a new position in shares of Goldcorp in the fourth quarter worth about $22,789,000. Franklin Resources Inc. lifted its holdings in shares of Goldcorp by 81.4% in the fourth quarter. Franklin Resources Inc. now owns 2,407,443 shares of the basic materials company’s stock worth $30,747,000 after acquiring an additional 1,080,198 shares during the last quarter. Finally, Two Sigma Investments LP lifted its holdings in shares of Goldcorp by 131.6% in the fourth quarter. Two Sigma Investments LP now owns 1,856,768 shares of the basic materials company’s stock worth $23,711,000 after acquiring an additional 1,054,888 shares during the last quarter. Hedge funds and other institutional investors own 52.26% of the company’s stock.

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About Goldcorp

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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Earnings History and Estimates for Goldcorp (NYSE:GG)

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