Shares of Goldcorp Inc. (NYSE:GG) (TSE:G) dropped 2.2% during trading on Thursday . The company traded as low as $10.58 and last traded at $10.63. Approximately 568,391 shares were traded during mid-day trading, a decline of 91% from the average daily volume of 6,304,504 shares. The stock had previously closed at $10.87.
GG has been the subject of a number of research reports. Canaccord Genuity upgraded Goldcorp from a “hold” rating to a “buy” rating in a research report on Monday, April 23rd. Scotiabank reiterated a “buy” rating and issued a $17.00 price objective on shares of Goldcorp in a research report on Friday, July 27th. Zacks Investment Research downgraded Goldcorp from a “hold” rating to a “sell” rating in a research report on Tuesday, July 3rd. ValuEngine downgraded Goldcorp from a “hold” rating to a “sell” rating in a research report on Monday, July 16th. Finally, 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. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $17.35.
The company has a quick ratio of 0.57, a current ratio of 1.01 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $10.35 billion, a PE ratio of 26.45, a P/E/G ratio of 4.27 and a beta of -0.13.
Goldcorp (NYSE:GG) (TSE:G) last issued its earnings results on Wednesday, July 25th. The basic materials company reported $0.05 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.07 by ($0.02). Goldcorp had a return on equity of 1.97% and a net margin of 8.61%. The company had revenue of $793.00 million during the quarter, compared to analyst estimates of $871.54 million. During the same period in the previous year, the company posted $0.16 earnings per share. equities research analysts anticipate that Goldcorp Inc. will post 0.28 EPS for the current year.
Institutional investors and hedge funds have recently modified their holdings of the company. GoodHaven Capital Management LLC acquired a new position in shares of Goldcorp in the 1st quarter worth approximately $138,000. Boston Partners acquired a new position in shares of Goldcorp in the 2nd quarter worth approximately $174,000. Envestnet Asset Management Inc. increased its holdings in Goldcorp by 1,425.4% during the 1st quarter. Envestnet Asset Management Inc. now owns 13,195 shares of the basic materials company’s stock valued at $182,000 after purchasing an additional 12,330 shares in the last quarter. Centaurus Financial Inc. acquired a new stake in Goldcorp during the 2nd quarter valued at $190,000. Finally, Howland Capital Management LLC acquired a new stake in Goldcorp during the 1st quarter valued at $217,000. 54.67% of the stock is owned by institutional investors and hedge funds.
About Goldcorp (NYSE:GG)
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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