Goldcorp Inc. (GG) Forecasted to Post FY2018 Earnings of $0.54 Per Share

Goldcorp Inc. (NYSE:GG) (TSE:G) – Research analysts at Jefferies Group increased their FY2018 EPS estimates for Goldcorp in a note issued to investors on Friday, according to Zacks Investment Research. Jefferies Group analyst C. Lafemina now anticipates that the basic materials company will earn $0.54 per share for the year, up from their prior forecast of $0.52. Jefferies Group has a “Hold” rating and a $16.00 price target on the stock. Jefferies Group also issued estimates for Goldcorp’s FY2019 earnings at $0.69 EPS and FY2020 earnings at $0.79 EPS.

Several other analysts also recently commented on the stock. Raymond James Financial upped their price objective on shares of Goldcorp from $17.00 to $18.00 and gave the company a “market perform” rating in a report on Wednesday, January 17th. TD Securities raised shares of Goldcorp from a “buy” rating to an “action list buy” rating and upped their price objective for the company from $20.00 to $22.00 in a report on Wednesday, January 17th. Scotiabank upped their price objective on shares of Goldcorp from $17.00 to $17.50 and gave the company an “outperform” rating in a report on Wednesday, January 17th. CIBC upped their price objective on shares of Goldcorp from $17.50 to $20.00 and gave the company an “outperform” rating in a report on Wednesday, January 17th. Finally, Canaccord Genuity downgraded shares of Goldcorp from a “buy” rating to a “hold” rating in a report on Wednesday, January 17th. Ten analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Goldcorp currently has a consensus rating of “Buy” and an average price target of $17.39.

Shares of Goldcorp (NYSE:GG) opened at $14.29 on Monday. The company has a market cap of $12,380.00, a price-to-earnings ratio of 23.82, a PEG ratio of 3.26 and a beta of -0.10. The company has a quick ratio of 0.69, a current ratio of 1.00 and a debt-to-equity ratio of 0.17. Goldcorp has a twelve month low of $11.64 and a twelve month high of $17.87.

A number of large investors have recently bought and sold shares of GG. Cambridge Investment Research Advisors Inc. raised its position in shares of Goldcorp by 38.1% in 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 buying an additional 6,064 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Goldcorp by 124.0% in the second quarter. JPMorgan Chase & Co. now owns 1,420,921 shares of the basic materials company’s stock valued at $18,344,000 after buying an additional 786,563 shares during the last quarter. Wells Fargo & Company MN raised its position in shares of Goldcorp by 18.5% in the second quarter. Wells Fargo & Company MN now owns 3,327,230 shares of the basic materials company’s stock valued at $42,955,000 after buying an additional 518,483 shares during the last quarter. AXA raised its position in shares of Goldcorp by 5.4% in the second quarter. AXA now owns 214,887 shares of the basic materials company’s stock valued at $2,774,000 after buying an additional 11,081 shares during the last quarter. Finally, Alliancebernstein L.P. raised its position in shares of Goldcorp by 12.7% in the second quarter. Alliancebernstein L.P. now owns 2,616,983 shares of the basic materials company’s stock valued at $33,785,000 after buying an additional 293,943 shares during the last quarter. Institutional investors own 53.44% of the company’s stock.

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About Goldcorp

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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Earnings History and Estimates for Goldcorp (NYSE:GG)

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