Brokerages Set Goldcorp Inc. (GG) Target Price at $15.34

Shares of Goldcorp Inc. (NYSE:GG) (TSE:G) have been assigned a consensus recommendation of “Hold” from the eighteen analysts that are covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation, eight have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $15.34.

Several equities research analysts recently issued reports on GG shares. ValuEngine cut Goldcorp from a “hold” rating to a “sell” rating in a report on Monday, July 16th. Scotiabank reiterated a “buy” rating and issued a $17.00 price objective on shares of Goldcorp in a research report on Friday, July 27th. TheStreet cut Goldcorp from a “b-” rating to a “c+” rating in a research report on Wednesday, August 1st. Jefferies Financial Group reiterated a “hold” rating and issued a $13.00 price objective on shares of Goldcorp in a research report on Monday, August 6th. Finally, Citigroup cut their price objective on Goldcorp from $16.00 to $14.00 and set a “buy” rating for the company in a research report on Wednesday, August 29th.

Hedge funds have recently made changes to their positions in the company. Greenline Partners LLC grew its position in Goldcorp by 5.1% during the third quarter. Greenline Partners LLC now owns 206,851 shares of the basic materials company’s stock valued at $2,106,000 after acquiring an additional 10,020 shares during the period. US Bancorp DE raised its stake in shares of Goldcorp by 53.4% during the 2nd quarter. US Bancorp DE now owns 96,119 shares of the basic materials company’s stock worth $1,318,000 after purchasing an additional 33,463 shares in the last quarter. Capital Fund Management S.A. raised its stake in shares of Goldcorp by 180.6% during the 2nd quarter. Capital Fund Management S.A. now owns 200,789 shares of the basic materials company’s stock worth $2,753,000 after purchasing an additional 129,240 shares in the last quarter. Hussman Strategic Advisors Inc. raised its stake in shares of Goldcorp by 50.0% during the 3rd quarter. Hussman Strategic Advisors Inc. now owns 600,000 shares of the basic materials company’s stock worth $6,120,000 after purchasing an additional 200,000 shares in the last quarter. Finally, BlackRock Inc. raised its stake in shares of Goldcorp by 5.3% during the 2nd quarter. BlackRock Inc. now owns 1,828,580 shares of the basic materials company’s stock worth $25,070,000 after purchasing an additional 91,351 shares in the last quarter. Institutional investors and hedge funds own 53.93% of the company’s stock.

Shares of NYSE GG traded down $0.19 during trading on Monday, hitting $9.19. The company had a trading volume of 7,815,204 shares, compared to its average volume of 14,464,224. Goldcorp has a fifty-two week low of $8.42 and a fifty-two week high of $15.55. The firm has a market cap of $8.11 billion, a price-to-earnings ratio of 22.98, a price-to-earnings-growth ratio of 12.65 and a beta of 0.09. The company has a quick ratio of 0.48, a current ratio of 0.83 and a debt-to-equity ratio of 0.18.

Goldcorp (NYSE:GG) (TSE:G) last announced its earnings results on Wednesday, October 24th. The basic materials company reported ($0.08) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 during the quarter, compared to analyst estimates of $714.46 million. Equities research analysts anticipate that Goldcorp will post 0.07 EPS for the current fiscal year.

Goldcorp Company Profile

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.

Read More: Compound Annual Growth Rate (CAGR)

Analyst Recommendations for Goldcorp (NYSE:GG)

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