Published On: Sun, Sep 18th, 2016

BMO Capital Markets Reiterates “Buy” Rating for Goldcorp Inc. (GG)

Goldcorp Inc. (NYSE:GG)‘s stock had its “buy” rating reaffirmed by equities research analysts at BMO Capital Markets in a research report issued to clients and investors on Thursday. They presently have a $23.00 price target on the stock. BMO Capital Markets’ price target indicates a potential upside of 47.72% from the company’s previous close.
A number of other research firms also recently weighed in on GG. Jefferies Group reissued a “hold” rating on shares of Goldcorp in a report on Wednesday, June 8th. Vetr downgraded Goldcorp from a “strong-buy” rating to a “strong sell” rating and set a $16.25 target price on the stock. in a report on Tuesday, May 17th. Deutsche Bank AG reissued a “sell” rating on shares of Goldcorp in a report on Wednesday, July 20th. Zacks Investment Research raised Goldcorp from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a report on Tuesday, June 28th. Finally, TD Securities reissued a “hold” rating and issued a $23.00 target price on shares of Goldcorp in a report on Monday, July 25th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Goldcorp presently has a consensus rating of “Hold” and an average target price of $19.36.
Shares of Goldcorp (NYSE:GG) traded down 1.46% on Thursday, hitting $15.57. The stock had a trading volume of 12,051,654 shares. Goldcorp has a 52 week low of $9.46 and a 52 week high of $20.38. The firm has a 50-day moving average price of $17.39 and a 200-day moving average price of $17.50. The stock’s market capitalization is $13.28 billion.

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Goldcorp (NYSE:GG) last released its quarterly earnings data on Wednesday, July 27th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.03 by $0.12. Goldcorp had a negative net margin of 115.33% and a negative return on equity of 0.71%. The business had revenue of $921 million for the quarter, compared to analysts’ expectations of $882.55 million. During the same period last year, the business earned $0.08 earnings per share. The company’s quarterly revenue was down 30.1% on a year-over-year basis. Equities analysts expect that Goldcorp will post $0.37 earnings per share for the current fiscal year.
Several institutional investors have recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. boosted its position in shares of Goldcorp by 7.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 6,779 shares of the company’s stock worth $130,000 after buying an additional 496 shares during the period. Smith Affiliated Capital Corp. boosted its position in shares of Goldcorp by 95.7% in the second quarter. Smith Affiliated Capital Corp. now owns 6,900 shares of the company’s stock worth $132,000 after buying an additional 3,374 shares during the period. M&R Capital Management Inc. bought a new position in shares of Goldcorp during the second quarter worth approximately $137,000. Seven Eight Capital LLC bought a new position in shares of Goldcorp during the second quarter worth approximately $176,000. Finally, Highlander Capital Management LLC boosted its position in shares of Goldcorp by 27.0% in the second quarter. Highlander Capital Management LLC now owns 9,400 shares of the company’s stock worth $180,000 after buying an additional 2,000 shares during the period. Hedge funds and other institutional investors own 60.45% of the company’s stock.
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.

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