Goldcorp (G) Upgraded at Canaccord Genuity

Goldcorp (TSE:G) (NYSE:GG) was upgraded by equities researchers at Canaccord Genuity from a “hold” rating to a “buy” rating in a note issued to investors on Monday. The firm currently has a C$25.00 price target on the stock, up from their prior price target of C$21.50. Canaccord Genuity’s target price points to a potential upside of 35.80% from the stock’s current price.

Several other research firms have also recently commented on G. National Bank Financial lowered their target price on shares of Goldcorp from C$25.00 to C$24.00 and set an “outperform” rating on the stock in a research note on Friday, February 16th. CSFB raised shares of Goldcorp from a “neutral” rating to an “outperform” rating and raised their target price for the company from C$15.50 to C$19.00 in a research note on Tuesday, January 16th. Finally, BMO Capital Markets set a C$16.00 target price on shares of Goldcorp and gave the company a “market perform” rating in a research note on Wednesday, January 17th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of C$21.58.

Shares of TSE:G opened at C$18.41 on Monday. Goldcorp has a fifty-two week low of C$15.00 and a fifty-two week high of C$19.94.

Goldcorp (TSE:G) (NYSE:GG) last issued its quarterly earnings data on Wednesday, February 14th. The company reported C$0.13 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of C$0.14 by C($0.01). The firm had revenue of C$1.08 billion during the quarter, compared to the consensus estimate of C$1.10 billion. Goldcorp had a net margin of 28.37% and a return on equity of 6.90%.

In other news, insider Lisa Wade sold 1,533 shares of Goldcorp stock in a transaction that occurred on Thursday, March 8th. The shares were sold at an average price of C$16.78, for a total value of C$25,723.74. Also, Director Kenneth Frank Williamson sold 5,000 shares of Goldcorp stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of C$16.13, for a total transaction of C$80,650.00. In the last three months, insiders have sold 54,997 shares of company stock worth $915,988.

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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.

Analyst Recommendations for Goldcorp (TSE:G)

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