Goldcorp Inc. (GG) Receives $16.63 Consensus Target Price from Analysts
Goldcorp Inc. (NYSE:GG) (TSE:G) has been given an average recommendation of “Hold” by the twenty ratings firms that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $16.63.
Several analysts have recently weighed in on the stock. TD Securities lowered their target price on shares of Goldcorp from $21.00 to $20.00 and set a “buy” rating on the stock in a report on Friday, August 4th. BidaskClub raised shares of Goldcorp from a “sell” rating to a “hold” rating in a report on Friday, August 11th. HC Wainwright reaffirmed a “buy” rating on shares of Goldcorp in a report on Monday, September 25th. Royal Bank Of Canada lowered their target price on shares of Goldcorp from $16.00 to $15.00 and set a “sector perform” rating on the stock in a report on Tuesday, August 15th. Finally, Jefferies Group LLC set a $13.00 target price on shares of Goldcorp and gave the company a “hold” rating in a report on Tuesday, August 15th.
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Goldcorp (NYSE GG) traded up 0.53% during midday trading on Friday, reaching $13.26. 3,836,121 shares of the company’s stock traded hands. The firm’s 50 day moving average price is $13.26 and its 200-day moving average price is $13.69. The company has a market capitalization of $11.47 billion, a PE ratio of 24.33 and a beta of -0.07. Goldcorp has a 1-year low of $11.91 and a 1-year high of $17.87. Goldcorp also saw some unusual options trading activity on Tuesday. Traders bought 4,401 put options on the company. This represents an increase of 116% compared to the average volume of 2,038 put options.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 22nd. Investors of record on Thursday, September 14th were issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date of this dividend was Wednesday, September 13th. Goldcorp’s dividend payout ratio is currently 14.55%.
A number of hedge funds have recently added to or reduced their stakes in GG. State Board of Administration of Florida Retirement System boosted its holdings in Goldcorp by 21.4% during the first quarter. State Board of Administration of Florida Retirement System now owns 19,881 shares of the basic materials company’s stock worth $290,000 after buying an additional 3,500 shares in the last quarter. UBS Asset Management Americas Inc. boosted its holdings in Goldcorp by 0.5% during the first quarter. UBS Asset Management Americas Inc. now owns 3,478,456 shares of the basic materials company’s stock worth $50,600,000 after buying an additional 18,720 shares in the last quarter. Parametric Portfolio Associates LLC boosted its holdings in Goldcorp by 48.3% during the first quarter. Parametric Portfolio Associates LLC now owns 130,857 shares of the basic materials company’s stock worth $1,909,000 after buying an additional 42,613 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its holdings in Goldcorp by 16.3% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 46,074 shares of the basic materials company’s stock worth $672,000 after buying an additional 6,458 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its holdings in Goldcorp by 0.8% during the first quarter. Alliancebernstein L.P. now owns 2,323,040 shares of the basic materials company’s stock worth $33,893,000 after buying an additional 17,312 shares in the last quarter. 53.97% of the stock is currently owned by hedge funds and other institutional investors.
Goldcorp Company Profile
Goldcorp Inc is a gold producer engaged in the operation, exploration, development and acquisition of precious metal properties in Canada, the United States, Mexico, and Central and South America. The Company is engaged in the sale of gold, silver, lead, zinc and copper. The Company’s segments include Red Lake Gold Mines Ontario Partnership (Red Lake), Goldcorp Canada Ltd./Goldcorp Inc (Porcupine), Musselwhite, Les Mines Opinaca Ltee (Eleonore), Minera Penasquito SA de C.V.
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