Analysts Set Goldcorp Inc. (GG) Target Price at $15.34

Goldcorp Inc. (NYSE:GG) (TSE:G) has been assigned an average rating of “Hold” from the eighteen brokerages that are currently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $15.34.

GG has been the subject of several recent analyst reports. ValuEngine downgraded shares of Goldcorp from a “hold” rating to a “sell” rating in a research note on Monday, July 16th. Scotiabank reaffirmed a “buy” rating and set a $17.00 price objective on shares of Goldcorp in a research note on Friday, July 27th. TheStreet downgraded shares of Goldcorp from a “b-” rating to a “c+” rating in a research note on Wednesday, August 1st. Jefferies Financial Group reaffirmed a “hold” rating and set a $13.00 price objective on shares of Goldcorp in a research note on Monday, August 6th. Finally, Citigroup lowered their price objective on shares of Goldcorp from $16.00 to $14.00 and set a “buy” rating for the company in a research note on Wednesday, August 29th.

Goldcorp stock opened at $9.33 on Monday. The company has a quick ratio of 0.48, a current ratio of 0.83 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $8.16 billion, a price-to-earnings ratio of 23.33, a price-to-earnings-growth ratio of 12.72 and a beta of 0.09. Goldcorp has a twelve month low of $8.42 and a twelve month high of $15.55.

Goldcorp (NYSE:GG) (TSE:G) last posted its quarterly earnings results on Wednesday, October 24th. The basic materials company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.06). The business had revenue of $621.00 million during the quarter, compared to the consensus estimate of $714.46 million. Goldcorp had a return on equity of 0.97% and a net margin of 2.47%. On average, equities analysts anticipate that Goldcorp will post 0.07 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in GG. Greenline Partners LLC grew its holdings in Goldcorp by 5.1% in the third quarter. Greenline Partners LLC now owns 206,851 shares of the basic materials company’s stock worth $2,106,000 after purchasing an additional 10,020 shares during the period. US Bancorp DE grew its holdings in Goldcorp by 53.4% in the second quarter. US Bancorp DE now owns 96,119 shares of the basic materials company’s stock worth $1,318,000 after purchasing an additional 33,463 shares during the period. Capital Fund Management S.A. grew its holdings in Goldcorp by 180.6% in the second quarter. Capital Fund Management S.A. now owns 200,789 shares of the basic materials company’s stock worth $2,753,000 after purchasing an additional 129,240 shares during the period. Hussman Strategic Advisors Inc. grew its holdings in Goldcorp by 50.0% in the third quarter. Hussman Strategic Advisors Inc. now owns 600,000 shares of the basic materials company’s stock worth $6,120,000 after purchasing an additional 200,000 shares during the period. Finally, BlackRock Inc. grew its holdings in Goldcorp by 5.3% in the second quarter. BlackRock Inc. now owns 1,828,580 shares of the basic materials company’s stock worth $25,070,000 after purchasing an additional 91,351 shares during the period. Institutional investors own 53.93% of the company’s stock.

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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Analyst Recommendations for Goldcorp (NYSE:GG)

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