Foundation Resource Management Inc. trimmed its holdings in shares of Goldcorp Inc. (NYSE:GG) (TSE:G) by 5.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 675,629 shares of the basic materials company’s stock after selling 38,829 shares during the period. Goldcorp makes up approximately 1.6% of Foundation Resource Management Inc.’s investment portfolio, making the stock its 21st largest holding. Foundation Resource Management Inc.’s holdings in Goldcorp were worth $7,729,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also modified their holdings of GG. Wedbush Securities Inc. grew its holdings in Goldcorp by 4.5% during the fourth quarter. Wedbush Securities Inc. now owns 24,560 shares of the basic materials company’s stock worth $241,000 after acquiring an additional 1,053 shares during the period. First Interstate Bank increased its stake in Goldcorp by 6.1% in the 4th quarter. First Interstate Bank now owns 19,050 shares of the basic materials company’s stock worth $187,000 after purchasing an additional 1,100 shares in the last quarter. Estabrook Capital Management increased its stake in Goldcorp by 37.7% in the 4th quarter. Estabrook Capital Management now owns 4,475 shares of the basic materials company’s stock worth $44,000 after purchasing an additional 1,225 shares in the last quarter. AGF Investments America Inc. increased its stake in Goldcorp by 2.5% in the 4th quarter. AGF Investments America Inc. now owns 57,002 shares of the basic materials company’s stock worth $559,000 after purchasing an additional 1,377 shares in the last quarter. Finally, Stephens Inc. AR increased its stake in Goldcorp by 12.9% in the 4th quarter. Stephens Inc. AR now owns 15,556 shares of the basic materials company’s stock worth $152,000 after purchasing an additional 1,779 shares in the last quarter. 55.56% of the stock is currently owned by institutional investors.
A number of equities analysts recently weighed in on the company. Deutsche Bank dropped their price target on Goldcorp from $13.00 to $12.00 and set a “hold” rating on the stock in a research note on Wednesday. Royal Bank of Canada cut Goldcorp from an “outperform” rating to a “sector perform” rating and dropped their price target for the stock from $15.00 to $13.00 in a research note on Tuesday, February 26th. UBS Group cut Goldcorp from a “buy” rating to a “neutral” rating and set a $11.00 price target on the stock. in a research note on Tuesday, February 12th. Cormark reissued a “hold” rating on shares of Goldcorp in a research note on Tuesday, January 29th. Finally, Raymond James restated a “market perform” rating and set a $14.00 price objective on shares of Goldcorp in a research report on Tuesday, January 15th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $13.13.
Goldcorp (NYSE:GG) (TSE:G) last announced its quarterly earnings data on Wednesday, February 13th. The basic materials company reported $0.07 EPS for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.05. Goldcorp had a positive return on equity of 0.86% and a negative net margin of 136.84%. The firm had revenue of $772.00 million during the quarter, compared to analyst estimates of $853.36 million. Research analysts anticipate that Goldcorp Inc. will post 0.29 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Thursday, March 14th were given a dividend of $0.02 per share. The ex-dividend date was Wednesday, March 13th. This represents a $0.08 dividend on an annualized basis and a yield of 0.70%. Goldcorp’s payout ratio is presently 114.29%.
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. The company primarily explores for gold, zinc, silver, lead, and copper deposits. Its 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.
Further Reading: Dividend
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