Goldcorp Inc. (NYSE:GG) (TSE:G) – Investment analysts at Cormark lowered their FY2018 EPS estimates for shares of Goldcorp in a research note issued on Thursday, September 20th, Zacks Investment Research reports. Cormark analyst R. Gray now expects that the basic materials company will earn $0.20 per share for the year, down from their previous forecast of $0.21.
A number of other analysts have also recently weighed in on GG. ValuEngine cut shares of Goldcorp from a “hold” rating to a “sell” rating in a report on Monday, July 16th. Zacks Investment Research cut shares of Goldcorp from a “hold” rating to a “sell” rating in a report on Tuesday, July 3rd. Jefferies Financial Group reaffirmed a “hold” rating and issued a $11.50 price objective on shares of Goldcorp in a report on Monday, October 8th. Deutsche Bank set a $14.00 price objective on shares of Goldcorp and gave the stock a “hold” rating in a report on Tuesday, October 2nd. Finally, Barclays initiated coverage on shares of Goldcorp in a report on Wednesday. They issued an “overweight” rating and a $14.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $16.02.
Shares of NYSE:GG traded down $0.04 on Friday, reaching $10.76. 12,701,401 shares of the company’s stock were exchanged, compared to its average volume of 6,791,604. The stock has a market capitalization of $8.87 billion, a price-to-earnings ratio of 26.90, a price-to-earnings-growth ratio of 3.96 and a beta of -0.09. Goldcorp has a fifty-two week low of $9.75 and a fifty-two week high of $15.55. 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 (NYSE:GG) (TSE:G) last issued its earnings results on Wednesday, July 25th. The basic materials company reported $0.05 earnings per share 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 earnings per share.
A number of institutional investors and hedge funds have recently made changes to their positions in GG. GoodHaven Capital Management LLC bought a new position in Goldcorp in the 1st quarter valued at about $138,000. Boston Partners bought a new position in Goldcorp in the 2nd quarter valued at about $174,000. Envestnet Asset Management Inc. grew its position in Goldcorp by 1,425.4% in the 1st quarter. Envestnet Asset Management Inc. now owns 13,195 shares of the basic materials company’s stock valued at $182,000 after buying an additional 12,330 shares in the last quarter. Centaurus Financial Inc. bought a new position in shares of Goldcorp during the 2nd quarter valued at about $190,000. Finally, Edgestream Partners L.P. bought a new position in shares of Goldcorp during the 2nd quarter valued at about $231,000. Hedge funds and other institutional investors own 53.88% of the company’s stock.
The business also recently announced a quarterly dividend, which was paid on Friday, September 21st. Investors of record on Thursday, September 13th were given a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date of this dividend was Wednesday, September 12th. This is a positive change from Goldcorp’s previous quarterly dividend of $0.02. Goldcorp’s dividend payout ratio is currently 20.00%.
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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