Majedie Asset Management Ltd Lowers Position in Goldcorp Inc. (GG)

Majedie Asset Management Ltd reduced its position in Goldcorp Inc. (NYSE:GG) (TSE:G) by 16.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,151,664 shares of the basic materials company’s stock after selling 1,362,834 shares during the quarter. Goldcorp comprises approximately 7.7% of Majedie Asset Management Ltd’s investment portfolio, making the stock its 3rd largest position. Majedie Asset Management Ltd owned about 0.82% of Goldcorp worth $91,327,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. PNC Financial Services Group Inc. increased its stake in shares of Goldcorp by 106.8% in the 2nd quarter. PNC Financial Services Group Inc. now owns 39,447 shares of the basic materials company’s stock worth $510,000 after acquiring an additional 20,372 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Goldcorp by 4.1% in the 2nd quarter. Vanguard Group Inc. now owns 20,163,542 shares of the basic materials company’s stock worth $260,311,000 after acquiring an additional 801,859 shares during the last quarter. Parametric Portfolio Associates LLC increased its stake in shares of Goldcorp by 6.4% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 139,223 shares of the basic materials company’s stock worth $1,797,000 after acquiring an additional 8,366 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Goldcorp in the 2nd quarter worth $21,450,000. Finally, Dimensional Fund Advisors LP increased its stake in shares of Goldcorp by 8.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,711,892 shares of the basic materials company’s stock worth $47,921,000 after acquiring an additional 283,810 shares during the last quarter. 54.08% of the stock is owned by hedge funds and other institutional investors.

A number of analysts have issued reports on the company. Jefferies Group set a $16.00 target price on Goldcorp and gave the stock a “hold” rating in a research note on Tuesday, January 16th. Raymond James Financial raised their target price on Goldcorp from $17.00 to $18.00 and gave the stock a “market perform” rating in a research note on Wednesday, January 17th. TD Securities raised Goldcorp from a “buy” rating to an “action list buy” rating and raised their target price for the stock from $20.00 to $22.00 in a research note on Wednesday, January 17th. Scotiabank raised their target price on Goldcorp from $17.00 to $17.50 and gave the stock an “outperform” rating in a research note on Wednesday, January 17th. Finally, CIBC increased their price target on Goldcorp from $17.50 to $20.00 and gave the stock an “outperform” rating in a report on Wednesday, January 17th. Nine investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $17.48.

Goldcorp Inc. (GG) traded up $0.54 during midday trading on Wednesday, hitting $13.22. The stock had a trading volume of 6,865,476 shares, compared to its average volume of 9,039,535. The stock has a market cap of $11,090.00, a PE ratio of 21.90, a PEG ratio of 2.71 and a beta of 0.05. The company has a current ratio of 1.00, a quick ratio of 0.69 and a debt-to-equity ratio of 0.17. Goldcorp Inc. has a fifty-two week low of $11.64 and a fifty-two week high of $17.87.

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Goldcorp Company Profile

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.

Institutional Ownership by Quarter for Goldcorp (NYSE:GG)

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