Goldcorp (GG) Expected to Announce Quarterly Sales of $857.98 Million

Equities analysts forecast that Goldcorp (NYSE:GG) (TSE:G) will report sales of $857.98 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Goldcorp’s earnings. The lowest sales estimate is $806.70 million and the highest is $909.26 million. Goldcorp reported sales of $882.00 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 2.7%. The firm is expected 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 sales of $857.98 million for the current fiscal year, with estimates ranging from $3.51 billion to $3.80 billion. For the next financial year, analysts anticipate that the company will post sales of $4.42 billion per share, with estimates ranging from $3.73 billion to $5.28 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Goldcorp.

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Goldcorp (NYSE:GG) (TSE:G) last released its quarterly earnings data on Wednesday, February 14th. The basic materials company reported $0.10 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($0.01). Goldcorp had a return on equity of 3.08% and a net margin of 19.22%. The firm had revenue of $853.00 million during the quarter, compared to the consensus estimate of $869.94 million.

A number of research firms have issued reports on GG. Canaccord Genuity downgraded Goldcorp from a “buy” rating to a “hold” rating in a research note on Wednesday, January 17th. Zacks Investment Research downgraded Goldcorp from a “buy” rating to a “hold” rating in a research note on Tuesday, January 2nd. Scotiabank set a $18.00 target price on Goldcorp and gave the company a “buy” rating in a research report on Tuesday, January 16th. Raymond James Financial boosted their target price on Goldcorp from $17.00 to $18.00 and gave the company a “market perform” rating in a research report on Wednesday, January 17th. Finally, Desjardins downgraded Goldcorp from a “buy” rating to a “hold” rating in a research report on Monday, December 11th. One 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 assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $17.51.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Crossmark Global Holdings Inc. boosted its holdings in Goldcorp by 4.1% during the 4th quarter. Crossmark Global Holdings Inc. now owns 102,724 shares of the basic materials company’s stock valued at $1,312,000 after acquiring an additional 4,025 shares during the period. Brave Asset Management Inc. boosted its holdings in Goldcorp by 27.2% during the 3rd quarter. Brave Asset Management Inc. now owns 20,345 shares of the basic materials company’s stock valued at $264,000 after acquiring an additional 4,345 shares during the period. Comerica Bank boosted its holdings in Goldcorp by 4.6% during the 3rd quarter. Comerica Bank now owns 101,246 shares of the basic materials company’s stock valued at $1,355,000 after acquiring an additional 4,445 shares during the period. Capital Innovations LLC boosted its holdings in Goldcorp by 54.0% during the 4th quarter. Capital Innovations LLC now owns 16,465 shares of the basic materials company’s stock valued at $210,000 after acquiring an additional 5,775 shares during the period. Finally, Patton Albertson Miller Group LLC boosted its holdings in Goldcorp by 11.9% during the 4th quarter. Patton Albertson Miller Group LLC now owns 56,644 shares of the basic materials company’s stock valued at $723,000 after acquiring an additional 6,016 shares during the period. Institutional investors own 52.29% of the company’s stock.

NYSE:GG opened at $13.82 on Monday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.56 and a current ratio of 0.91. Goldcorp has a 1 year low of $11.64 and a 1 year high of $15.63. The company has a market capitalization of $12,007.81, a price-to-earnings ratio of 34.55, a PEG ratio of 3.19 and a beta of 0.18.

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