Legal & General Group Plc trimmed its position in Goldcorp Inc. (NYSE:GG) (TSE:G) by 5.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,869,050 shares of the basic materials company’s stock after selling 208,137 shares during the period. Legal & General Group Plc owned about 0.45% of Goldcorp worth $53,088,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. GoodHaven Capital Management LLC purchased a new position in shares of Goldcorp during the 1st quarter worth about $138,000. Boston Partners purchased a new position in shares of Goldcorp during the 2nd quarter worth about $174,000. Envestnet Asset Management Inc. lifted its holdings in shares of 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 worth $182,000 after acquiring an additional 12,330 shares during the period. Usca Ria LLC purchased a new position in shares of Goldcorp during the 1st quarter worth about $231,000. Finally, Edgestream Partners L.P. purchased a new position in shares of Goldcorp during the 2nd quarter worth about $231,000. Institutional investors and hedge funds own 53.92% of the company’s stock.
GG opened at $10.20 on Friday. The company has a market cap of $8.84 billion, a P/E ratio of 25.50, a price-to-earnings-growth ratio of 3.65 and a beta of -0.15. Goldcorp Inc. has a 1 year low of $10.10 and a 1 year high of $15.55. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.01 and a quick ratio of 0.57.
Goldcorp (NYSE:GG) (TSE:G) last posted 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). The business had revenue of $793.00 million for the quarter, compared to analyst estimates of $871.54 million. Goldcorp had a return on equity of 1.97% and a net margin of 8.61%. During the same period last year, the company posted $0.16 EPS. analysts expect that Goldcorp Inc. will post 0.28 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 21st. Shareholders of record on Thursday, September 13th will be given a $0.02 dividend. This is an increase from Goldcorp’s previous quarterly dividend of $0.02. The ex-dividend date of this dividend is Wednesday, September 12th. This represents a $0.08 annualized dividend and a yield of 0.78%. Goldcorp’s dividend payout ratio (DPR) is 20.00%.
Several research analysts have recently weighed in on GG shares. Jefferies Financial Group reiterated a “hold” rating and set a $13.00 price objective on shares of Goldcorp in a report on Monday, August 6th. ValuEngine downgraded shares of Goldcorp from a “sell” rating to a “strong sell” rating in a research report on Tuesday. TheStreet downgraded shares of Goldcorp from a “b-” rating to a “c+” rating in a research report on Wednesday, August 1st. Scotiabank reissued a “buy” rating and set a $17.00 target price on shares of Goldcorp in a research report on Friday, July 27th. Finally, Zacks Investment Research downgraded shares of Goldcorp from a “hold” rating to a “sell” rating in a research report on Tuesday, July 3rd. Two analysts have rated the stock with a sell rating, five have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Goldcorp currently has a consensus rating of “Buy” and an average target price of $17.09.
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: How to Use a Moving Average for Trading
Want to see what other hedge funds are holding GG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Goldcorp Inc. (NYSE:GG) (TSE:G).
Receive News & Ratings for Goldcorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Goldcorp and related companies with MarketBeat.com's FREE daily email newsletter.