Korea Investment CORP grew its stake in shares of Goldcorp Inc. (NYSE:GG) (TSE:G) by 40.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 160,650 shares of the basic materials company’s stock after buying an additional 46,500 shares during the quarter. Korea Investment CORP’s holdings in Goldcorp were worth $2,204,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. GoodHaven Capital Management LLC bought a new stake in shares of Goldcorp in the 1st quarter worth approximately $138,000. Boston Partners bought a new stake in shares of Goldcorp in the 2nd quarter worth approximately $174,000. Envestnet Asset Management Inc. raised its holdings in shares of Goldcorp by 1,425.4% in the 1st quarter. Envestnet Asset Management Inc. now owns 13,195 shares of the basic materials company’s stock worth $182,000 after purchasing an additional 12,330 shares in the last quarter. Usca Ria LLC bought a new stake in shares of Goldcorp in the 1st quarter worth approximately $231,000. Finally, Edgestream Partners L.P. bought a new stake in shares of Goldcorp in the 2nd quarter worth approximately $231,000. Institutional investors own 53.91% of the company’s stock.
A number of analysts recently commented on the stock. ValuEngine upgraded shares of Goldcorp from a “sell” rating to a “hold” rating in a report on Saturday, June 2nd. Zacks Investment Research downgraded shares of Goldcorp from a “hold” rating to a “sell” rating in a report on Tuesday, July 3rd. TheStreet upgraded shares of Goldcorp from a “c” rating to a “b-” rating in a report on Tuesday, May 22nd. Scotiabank reissued a “buy” rating and issued a $17.00 target price on shares of Goldcorp in a research report on Friday, July 27th. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $13.00 target price on shares of Goldcorp in a research report on Monday, August 6th. Two analysts have rated the stock with a sell rating, five have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Goldcorp currently has a consensus rating of “Buy” and a consensus price target of $17.09.
Goldcorp (NYSE:GG) (TSE:G) last released its earnings results on Wednesday, July 25th. The basic materials company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.02). The firm had revenue of $793.00 million during the quarter, compared to analysts’ expectations of $871.54 million. Goldcorp had a return on equity of 1.97% and a net margin of 8.61%. During the same period last year, the business earned $0.16 earnings per share. equities research analysts predict that Goldcorp Inc. will post 0.27 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 21st. Stockholders of record on Thursday, September 13th will be given a $0.02 dividend. This is an increase from Goldcorp’s previous quarterly dividend of $0.02. This represents a $0.08 annualized dividend and a dividend yield of 0.78%. The ex-dividend date is Wednesday, September 12th. Goldcorp’s dividend payout ratio (DPR) is 20.00%.
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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