Goldcorp Inc. (NYSE:GG) (TSE:G) – Stock analysts at Cormark increased their Q4 2017 earnings per share estimates for Goldcorp in a research note issued to investors on Monday, according to Zacks Investment Research. Cormark analyst R. Gray now expects that the basic materials company will post earnings per share of $0.17 for the quarter, up from their previous forecast of $0.13. Cormark also issued estimates for Goldcorp’s Q1 2018 earnings at $0.20 EPS, Q2 2018 earnings at $0.20 EPS, Q3 2018 earnings at $0.20 EPS, Q4 2018 earnings at $0.20 EPS, FY2018 earnings at $0.81 EPS, Q1 2019 earnings at $0.21 EPS, Q2 2019 earnings at $0.21 EPS, Q3 2019 earnings at $0.21 EPS, Q4 2019 earnings at $0.21 EPS and FY2019 earnings at $0.83 EPS.
A number of other equities analysts have also recently issued reports on the stock. TD Securities upgraded shares of Goldcorp from a “buy” rating to an “action list buy” rating and upped their price target for the stock from $20.00 to $22.00 in a research note on Wednesday, January 17th. Zacks Investment Research upgraded shares of Goldcorp from a “hold” rating to a “buy” rating and set a $14.00 price target on the stock in a research note on Wednesday, December 27th. Scotiabank set a $18.00 price target on shares of Goldcorp and gave the stock a “buy” rating in a research note on Tuesday, January 16th. Desjardins cut shares of Goldcorp from a “buy” rating to a “hold” rating in a research note on Monday, December 11th. Finally, HSBC cut 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. Ten research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $17.39.
Shares of Goldcorp (NYSE GG) traded down $0.03 during mid-day trading on Tuesday, hitting $14.29. 4,560,000 shares of the stock were exchanged, compared to its average volume of 7,990,000. Goldcorp has a 1 year low of $11.64 and a 1 year high of $17.87. The company has a market cap of $12,380.00, a PE ratio of 23.82, a PEG ratio of 3.24 and a beta of -0.10. The company has a current ratio of 1.00, a quick ratio of 0.69 and a debt-to-equity ratio of 0.17.
A number of large investors have recently modified their holdings of GG. Investec Asset Management LTD purchased a new position in Goldcorp in the 3rd quarter worth about $49,710,000. Carmignac Gestion raised its position in Goldcorp by 11.6% in the 3rd quarter. Carmignac Gestion now owns 30,505,522 shares of the basic materials company’s stock worth $395,352,000 after buying an additional 3,168,910 shares during the last quarter. CIBC Asset Management Inc raised its position in Goldcorp by 28.1% in the 3rd quarter. CIBC Asset Management Inc now owns 11,876,598 shares of the basic materials company’s stock worth $153,791,000 after buying an additional 2,605,368 shares during the last quarter. Guardian Capital LP raised its position in Goldcorp by 37.3% in the 3rd quarter. Guardian Capital LP now owns 8,664,209 shares of the basic materials company’s stock worth $112,193,000 after buying an additional 2,354,277 shares during the last quarter. Finally, Flossbach Von Storch AG raised its position in Goldcorp by 28.0% in the 3rd quarter. Flossbach Von Storch AG now owns 9,157,520 shares of the basic materials company’s stock worth $118,681,000 after buying an additional 2,005,040 shares during the last quarter. 53.44% of the stock is owned by institutional investors and hedge funds.
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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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