Goldcorp (NYSE:GG) (TSE:G) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday, December 27th. The brokerage currently has a $14.00 price objective on the basic materials company’s stock. Zacks Investment Research‘s price objective would indicate a potential downside of 2.44% from the company’s current price.
According to Zacks, “Estimates for Goldcorp for the current quarter and current year have been going up lately. Goldcorp’s focus on reducing mining costs will boost its margins. The company is also likely to gain from its key exploration projects that will drive future production and reserve growth.”
Several other analysts also recently issued reports on the stock. JPMorgan Chase & Co. boosted their target price on shares of Goldcorp from $16.00 to $18.00 and gave the company an “overweight” rating in a research note on Wednesday, November 15th. Royal Bank of Canada raised shares of Goldcorp from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $15.00 to $18.00 in a research note on Wednesday, November 1st. National Bank Financial raised shares of Goldcorp from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 26th. HSBC downgraded shares of Goldcorp from a “buy” rating to a “hold” rating and set a $14.80 price target on the stock. in a research note on Wednesday, November 22nd. Finally, Canaccord Genuity raised shares of Goldcorp from a “hold” rating to a “buy” rating and set a $16.90 price target on the stock in a research note on Friday, September 29th. Ten analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $16.65.
Goldcorp (GG) opened at $14.35 on Wednesday. The stock has a market capitalization of $12,470.00, a price-to-earnings ratio of 23.92, a price-to-earnings-growth ratio of 2.52 and a beta of -0.10. Goldcorp has a twelve month low of $11.64 and a twelve month high of $17.87. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.00 and a quick ratio of 0.69.
Several hedge funds and other institutional investors have recently bought and sold shares of GG. Aviva PLC increased its holdings in shares of Goldcorp by 0.7% during the second quarter. Aviva PLC now owns 534,488 shares of the basic materials company’s stock worth $6,887,000 after buying an additional 3,750 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in shares of Goldcorp by 38.1% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 21,983 shares of the basic materials company’s stock valued at $284,000 after purchasing an additional 6,064 shares during the last quarter. Brighton Jones LLC grew its stake in shares of Goldcorp by 2.9% during the second quarter. Brighton Jones LLC now owns 18,784 shares of the basic materials company’s stock valued at $243,000 after purchasing an additional 522 shares during the last quarter. Sentry Investments Corp. grew its stake in shares of Goldcorp by 1.4% during the second quarter. Sentry Investments Corp. now owns 5,138,800 shares of the basic materials company’s stock valued at $85,921,000 after purchasing an additional 68,600 shares during the last quarter. Finally, Commerzbank Aktiengesellschaft FI grew its stake in shares of Goldcorp by 133.8% during the second quarter. Commerzbank Aktiengesellschaft FI now owns 1,896,225 shares of the basic materials company’s stock valued at $24,480,000 after purchasing an additional 1,085,011 shares during the last quarter. 53.41% of the stock is owned by institutional investors.
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Goldcorp Inc is a gold producer engaged in the operation, exploration, development and acquisition of precious metal properties in Canada, the United States, Mexico, and Central and South America. The Company is engaged in the sale of gold, silver, lead, zinc and copper. The Company’s segments include Red Lake Gold Mines Ontario Partnership (Red Lake), Goldcorp Canada Ltd./Goldcorp Inc (Porcupine), Musselwhite, Les Mines Opinaca Ltee (Eleonore), Minera Penasquito SA de C.V.
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