Goldcorp (GG) Expected to Announce Earnings of $0.10 Per Share

Equities research analysts forecast that Goldcorp (NYSE:GG) (TSE:G) will report $0.10 earnings per share for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Goldcorp’s earnings. The highest EPS estimate is $0.12 and the lowest is $0.09. Goldcorp posted earnings of $0.20 per share during the same quarter last year, which indicates a negative year-over-year growth rate of 50%. The firm is scheduled to report its next quarterly earnings results after the market closes on Wednesday, April 25th.

On average, analysts expect that Goldcorp will report full-year earnings of $0.43 per share for the current fiscal year, with EPS estimates ranging from $0.29 to $0.60. For the next year, analysts forecast that the firm will report earnings of $0.67 per share, with EPS estimates ranging from $0.46 to $0.85. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover Goldcorp.

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Goldcorp (NYSE:GG) (TSE:G) last announced 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). The company had revenue of $853.00 million during the quarter, compared to analyst estimates of $869.94 million. Goldcorp had a net margin of 19.22% and a return on equity of 3.08%.

A number of brokerages have weighed in on GG. Zacks Investment Research upgraded shares of Goldcorp from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a report on Monday, January 8th. Scotiabank set a $18.00 price target on shares of Goldcorp and gave the company a “buy” rating in a report on Tuesday, January 16th. Canaccord Genuity lowered shares of Goldcorp from a “buy” rating to a “hold” rating in a report on Wednesday, January 17th. Jefferies Group set a $16.00 price target on shares of Goldcorp and gave the company a “hold” rating in a report on Tuesday, January 16th. Finally, Raymond James Financial lifted their price target 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. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $17.51.

Large investors have recently bought and sold shares of the stock. Private Advisor Group LLC acquired a new position in shares of Goldcorp during the 3rd quarter valued at $137,000. Cerebellum GP LLC acquired a new position in shares of Goldcorp during the 4th quarter valued at $133,000. Belpointe Asset Management LLC acquired a new position in shares of Goldcorp during the 4th quarter valued at $141,000. Lombard Odier Asset Management Europe Ltd purchased a new stake in Goldcorp during the 4th quarter worth $179,000. Finally, Sciencast Management LP purchased a new stake in Goldcorp during the 4th quarter worth $207,000. Institutional investors and hedge funds own 52.29% of the company’s stock.

Shares of NYSE:GG traded up $0.31 during mid-day trading on Friday, reaching $13.82. The company had a trading volume of 5,506,104 shares, compared to its average volume of 6,601,675. The firm has a market cap of $12,007.81, a PE ratio of 34.55, a price-to-earnings-growth ratio of 3.19 and a beta of 0.18. Goldcorp has a fifty-two week low of $11.64 and a fifty-two week high of $15.63. The company has a quick ratio of 0.56, a current ratio of 0.91 and a debt-to-equity ratio of 0.16.

The firm also recently announced a quarterly dividend, which was paid on Friday, March 23rd. Investors of record on Thursday, March 15th were issued a dividend of $0.02 per share. The ex-dividend date of this dividend was Wednesday, March 14th. This represents a $0.08 annualized dividend and a dividend yield of 0.58%. Goldcorp’s payout ratio is 20.00%.

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About Goldcorp

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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Earnings History and Estimates for Goldcorp (NYSE:GG)

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