Analysts Anticipate Goldcorp Inc. (GG) Will Post Earnings of $0.06 Per Share

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Brokerages forecast that Goldcorp Inc. (NYSE:GG) (TSE:G) will announce earnings of $0.06 per share for the current quarter, according to Zacks. Two analysts have issued estimates for Goldcorp’s earnings. The lowest EPS estimate is $0.04 and the highest is $0.11. Goldcorp posted earnings per share of $0.09 during the same quarter last year, which suggests a negative year over year growth rate of 33.3%. The business is expected to report its next quarterly earnings report on Wednesday, October 24th.

According to Zacks, analysts expect that Goldcorp will report full year earnings of $0.28 per share for the current financial year, with EPS estimates ranging from $0.21 to $0.33. For the next year, analysts expect that the company will post earnings of $0.58 per share, with EPS estimates ranging from $0.31 to $0.84. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that follow Goldcorp.

Goldcorp (NYSE:GG) (TSE:G) last announced its earnings results on Wednesday, July 25th. The basic materials company reported $0.05 earnings per share (EPS) for the quarter, missing the 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 analysts’ expectations of $871.54 million. During the same quarter last year, the firm posted $0.16 earnings per share.

Several analysts have issued reports on GG shares. TheStreet upgraded shares of Goldcorp from a “c” rating to a “b-” rating in a research report on Tuesday, May 22nd. ValuEngine upgraded shares of Goldcorp from a “sell” rating to a “hold” rating in a research report on Saturday, June 2nd. Zacks Investment Research lowered shares of Goldcorp from a “hold” rating to a “sell” rating in a research report on Tuesday, July 3rd. Scotiabank restated a “buy” rating and set a $17.00 price target on shares of Goldcorp in a research report on Friday, July 27th. Finally, Jefferies Financial Group restated a “hold” rating and set a $13.00 price target on shares of Goldcorp in a research report on Monday, August 6th. Two analysts have rated the stock with a sell rating, five have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $17.09.

NYSE:GG traded up $0.07 during midday trading on Monday, hitting $10.27. The company had a trading volume of 4,784,856 shares, compared to its average volume of 7,465,557. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.57 and a current ratio of 1.01. Goldcorp has a 52-week low of $10.02 and a 52-week high of $15.55. The firm has a market capitalization of $8.87 billion, a PE ratio of 25.68, a price-to-earnings-growth ratio of 3.66 and a beta of -0.15.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 21st. Shareholders of record on Thursday, September 13th will be given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.78%. This is a positive change from Goldcorp’s previous quarterly dividend of $0.02. The ex-dividend date is Wednesday, September 12th. Goldcorp’s dividend payout ratio is presently 20.00%.

Large investors have recently modified their holdings of the company. Boston Partners bought a new position in shares of Goldcorp during the second quarter valued at about $174,000. Unigestion Holding SA bought a new position in shares of Goldcorp during the second quarter valued at about $5,042,000. Ruffer LLP raised its stake in shares of Goldcorp by 3.2% during the second quarter. Ruffer LLP now owns 8,580,206 shares of the basic materials company’s stock valued at $117,592,000 after acquiring an additional 268,222 shares during the last quarter. PCJ Investment Counsel Ltd. raised its stake in shares of Goldcorp by 12.9% during the second quarter. PCJ Investment Counsel Ltd. now owns 1,679,455 shares of the basic materials company’s stock valued at $23,045,000 after acquiring an additional 191,430 shares during the last quarter. Finally, Highstreet Asset Management Inc. raised its stake in shares of Goldcorp by 56.2% during the second quarter. Highstreet Asset Management Inc. now owns 274,553 shares of the basic materials company’s stock valued at $3,770,000 after acquiring an additional 98,813 shares during the last quarter. 53.92% of the stock is owned by hedge funds and other institutional investors.

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.

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