Virginia Retirement Systems ET AL Sells 526,400 Shares of Goldcorp Inc. (GG)

Virginia Retirement Systems ET AL lowered its stake in shares of Goldcorp Inc. (NYSE:GG) (TSE:G) by 39.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 800,790 shares of the basic materials company’s stock after selling 526,400 shares during the period. Virginia Retirement Systems ET AL owned 0.09% of Goldcorp worth $8,153,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of GG. Gabelli Funds LLC raised its position in shares of Goldcorp by 6.6% in the third quarter. Gabelli Funds LLC now owns 1,862,500 shares of the basic materials company’s stock worth $18,998,000 after buying an additional 115,000 shares in the last quarter. CIBC Asset Management Inc increased its stake in Goldcorp by 0.3% in the third quarter. CIBC Asset Management Inc now owns 17,043,530 shares of the basic materials company’s stock valued at $173,513,000 after acquiring an additional 44,653 shares during the last quarter. Usca Ria LLC increased its stake in Goldcorp by 52.5% in the third quarter. Usca Ria LLC now owns 27,664 shares of the basic materials company’s stock valued at $282,000 after acquiring an additional 9,529 shares during the last quarter. TD Asset Management Inc. increased its stake in Goldcorp by 15.8% in the third quarter. TD Asset Management Inc. now owns 14,928,339 shares of the basic materials company’s stock valued at $151,986,000 after acquiring an additional 2,036,742 shares during the last quarter. Finally, Private Advisor Group LLC bought a new position in Goldcorp in the third quarter valued at $135,000. Hedge funds and other institutional investors own 53.93% of the company’s stock.

A number of research analysts recently commented on GG shares. ValuEngine cut Goldcorp from a “hold” rating to a “sell” rating in a research note on Monday, July 16th. Scotiabank reissued a “buy” rating and issued a $17.00 target price on shares of Goldcorp in a research note on Friday, July 27th. TheStreet cut Goldcorp from a “b-” rating to a “c+” rating in a research note on Wednesday, August 1st. Jefferies Financial Group reissued a “hold” rating and issued a $13.00 target price on shares of Goldcorp in a research note on Monday, August 6th. Finally, Citigroup reduced their target price on Goldcorp from $16.00 to $14.00 and set a “buy” rating on the stock in a research note on Wednesday, August 29th. Two analysts have rated the stock with a sell rating, six have given a hold rating, eight 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 “Hold” and an average price target of $15.58.

Shares of NYSE:GG opened at $9.13 on Friday. Goldcorp Inc. has a 12-month low of $8.42 and a 12-month high of $15.55. The stock has a market cap of $8.16 billion, a PE ratio of 22.85, a P/E/G ratio of 12.72 and a beta of 0.09. The company has a current ratio of 0.83, a quick ratio of 0.48 and a debt-to-equity ratio of 0.18.

Goldcorp (NYSE:GG) (TSE:G) last announced its quarterly earnings data on Wednesday, October 24th. The basic materials company reported ($0.08) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.02) by ($0.06). Goldcorp had a net margin of 2.47% and a return on equity of 0.97%. The company had revenue of $621.00 million for the quarter, compared to the consensus estimate of $714.46 million. As a group, analysts anticipate that Goldcorp Inc. will post 0.07 EPS for the current year.

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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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Institutional Ownership by Quarter for Goldcorp (NYSE:GG)

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