Analysts expect Goldcorp (NYSE:GG) (TSE:G) to post sales of $857.98 million for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Goldcorp’s earnings, with estimates ranging from $806.70 million to $909.26 million. Goldcorp posted sales of $882.00 million in the same quarter last year, which suggests a negative year over year growth rate of 2.7%. The business is expected to issue its next earnings results after the market closes on Wednesday, April 25th.
On average, analysts expect that Goldcorp will report full-year sales of $857.98 million for the current year, with estimates ranging from $3.51 billion to $3.80 billion. For the next fiscal year, analysts forecast that the company will report sales of $4.42 billion per share, with estimates ranging from $3.73 billion to $5.28 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that that provide coverage for Goldcorp.
Goldcorp (NYSE:GG) (TSE:G) last released its quarterly earnings results on Wednesday, February 14th. The basic materials company reported $0.10 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($0.01). Goldcorp had a net margin of 19.22% and a return on equity of 3.08%. The company had revenue of $853.00 million during the quarter, compared to analyst estimates of $869.94 million.
A number of research firms recently weighed in on GG. Canaccord Genuity lowered Goldcorp from a “buy” rating to a “hold” rating in a research report on Wednesday, January 17th. Zacks Investment Research lowered Goldcorp from a “buy” rating to a “hold” rating in a research report on Tuesday, January 2nd. Scotiabank set a $18.00 price objective on Goldcorp and gave the stock a “buy” rating in a research report on Tuesday, January 16th. Raymond James Financial raised their price objective on Goldcorp from $17.00 to $18.00 and gave the stock a “market perform” rating in a research report on Wednesday, January 17th. Finally, Desjardins lowered Goldcorp from a “buy” rating to a “hold” rating in a research report on Monday, December 11th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $17.51.
Several hedge funds have recently modified their holdings of GG. CIBC Asset Management Inc raised its stake in shares of Goldcorp by 40.6% in the 4th quarter. CIBC Asset Management Inc now owns 16,700,712 shares of the basic materials company’s stock valued at $213,869,000 after acquiring an additional 4,824,114 shares in the last quarter. Amundi Pioneer Asset Management Inc. bought a new position in shares of Goldcorp in the 4th quarter valued at approximately $34,205,000. Guardian Capital LP raised its stake in shares of Goldcorp by 37.3% in the 3rd quarter. Guardian Capital LP now owns 8,664,209 shares of the basic materials company’s stock valued at $112,193,000 after acquiring an additional 2,354,277 shares in the last quarter. Alps Advisors Inc. bought a new position in shares of Goldcorp in the 4th quarter valued at approximately $22,789,000. Finally, Franklin Resources Inc. raised its stake in shares of Goldcorp by 81.4% in the 4th quarter. Franklin Resources Inc. now owns 2,407,443 shares of the basic materials company’s stock valued at $30,747,000 after acquiring an additional 1,080,198 shares in the last quarter. 52.29% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE:GG traded down $0.12 during midday trading on Monday, reaching $13.93. The company had a trading volume of 6,586,792 shares, compared to its average volume of 7,901,602. The company has a quick ratio of 0.56, a current ratio of 0.91 and a debt-to-equity ratio of 0.16. Goldcorp has a 1-year low of $11.64 and a 1-year high of $15.63. The firm has a market capitalization of $12,207.66, a price-to-earnings ratio of 34.83, a price-to-earnings-growth ratio of 3.24 and a beta of 0.06.
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 23rd. Investors of record on Thursday, March 15th were paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date of this dividend was Wednesday, March 14th. Goldcorp’s payout ratio is 20.00%.
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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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