Goldcorp’s (GG) “Hold” Rating Reiterated at Jefferies Financial Group

Goldcorp (NYSE:GG) (TSE:G)‘s stock had its “hold” rating restated by stock analysts at Jefferies Financial Group in a research report issued to clients and investors on Monday. They currently have a $11.50 target price on the basic materials company’s stock. Jefferies Financial Group’s price objective would indicate a potential upside of 13.52% from the company’s previous close.

GG has been the topic of several other reports. ValuEngine downgraded shares of Goldcorp from a “sell” rating to a “strong sell” rating in a research note on Tuesday, September 4th. Citigroup downgraded shares of Goldcorp from a “buy” rating to a “neutral” rating and set a $12.00 price target on the stock. in a research note on Tuesday, September 25th. Raymond James decreased their price target on shares of Goldcorp from $18.00 to $17.00 and set a “market perform” rating on the stock in a research note on Thursday, September 20th. TheStreet downgraded shares of Goldcorp from a “b-” rating to a “c+” rating in a research note on Wednesday, August 1st. Finally, Deutsche Bank set a $14.00 price target on shares of Goldcorp and gave the stock a “hold” rating in a research note on Tuesday, October 2nd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $16.19.

Goldcorp stock traded up $0.14 during mid-day trading on Monday, hitting $10.13. 8,978,778 shares of the company traded hands, compared to its average volume of 6,668,594. Goldcorp has a one year low of $9.75 and a one year high of $15.55. The firm has a market cap of $8.87 billion, a PE ratio of 25.33, a PEG ratio of 3.96 and a beta of -0.09. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.01 and a quick ratio of 0.57.

Goldcorp (NYSE:GG) (TSE:G) last announced its earnings results on Wednesday, July 25th. The basic materials company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.02). Goldcorp had a net margin of 8.61% and a return on equity of 1.97%. The company had revenue of $793.00 million for the quarter, compared to the consensus estimate of $871.54 million. During the same quarter in the previous year, the firm earned $0.16 earnings per share. As a group, research analysts anticipate that Goldcorp will post 0.26 earnings per share for the current year.

Several hedge funds have recently bought and sold shares of GG. Foundation Resource Management Inc. increased its stake in shares of Goldcorp by 2.0% in the third quarter. Foundation Resource Management Inc. now owns 756,264 shares of the basic materials company’s stock worth $7,714,000 after buying an additional 14,874 shares during the period. Northern Trust Corp increased its stake in shares of Goldcorp by 2.5% in the second quarter. Northern Trust Corp now owns 839,487 shares of the basic materials company’s stock worth $11,509,000 after buying an additional 20,451 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Goldcorp by 33.3% in the second quarter. Bank of New York Mellon Corp now owns 3,100,667 shares of the basic materials company’s stock worth $42,510,000 after buying an additional 775,219 shares during the period. Titus Wealth Management purchased a new position in shares of Goldcorp in the second quarter worth $320,000. Finally, Bank of Nova Scotia increased its stake in shares of Goldcorp by 20.6% in the second quarter. Bank of Nova Scotia now owns 2,883,240 shares of the basic materials company’s stock worth $39,423,000 after buying an additional 491,780 shares during the period. 53.88% of the stock is currently owned by hedge funds and other institutional investors.

Goldcorp Company Profile

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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