CoreCommodity Management LLC trimmed its holdings in Goldcorp Inc. (NYSE:GG) (TSE:G) by 28.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 21,468 shares of the basic materials company’s stock after selling 8,431 shares during the period. CoreCommodity Management LLC’s holdings in Goldcorp were worth $210,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bank of New York Mellon Corp boosted its stake in Goldcorp by 33.3% during the 2nd 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 purchasing an additional 775,219 shares during the period. Private Advisor Group LLC purchased a new position in shares of Goldcorp in the 3rd quarter valued at about $135,000. Janney Montgomery Scott LLC purchased a new position in shares of Goldcorp in the 3rd quarter valued at about $626,000. SG Americas Securities LLC increased its holdings in shares of Goldcorp by 138.1% in the 3rd quarter. SG Americas Securities LLC now owns 494,252 shares of the basic materials company’s stock valued at $5,041,000 after purchasing an additional 286,641 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. increased its holdings in shares of Goldcorp by 1.2% in the 3rd quarter. Candriam Luxembourg S.C.A. now owns 467,434 shares of the basic materials company’s stock valued at $4,760,000 after purchasing an additional 5,711 shares in the last quarter. 55.09% of the stock is currently owned by hedge funds and other institutional investors.

GG opened at $10.85 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.47 and a current ratio of 0.87. Goldcorp Inc. has a 1 year low of $8.42 and a 1 year high of $14.66. The company has a market capitalization of $9.41 billion, a P/E ratio of 155.00 and a beta of 0.23.

Goldcorp (NYSE:GG) (TSE:G) last released its earnings results on Wednesday, February 13th. The basic materials company reported $0.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.05. Goldcorp had a negative net margin of 136.84% and a positive return on equity of 0.86%. The business had revenue of $772.00 million for the quarter, compared to analysts’ expectations of $853.36 million. As a group, equities research analysts anticipate that Goldcorp Inc. will post 0.28 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, March 22nd. Investors of record on Thursday, March 14th will be given a $0.02 dividend. The ex-dividend date is Wednesday, March 13th. This represents a $0.08 annualized dividend and a dividend yield of 0.74%. Goldcorp’s dividend payout ratio is presently 114.29%.

A number of equities analysts have recently issued reports on the stock. Royal Bank of Canada downgraded shares of Goldcorp from an “outperform” rating to a “sector perform” rating and cut their price target for the company from $15.00 to $13.00 in a report on Tuesday, February 26th. UBS Group downgraded shares of Goldcorp from a “buy” rating to a “neutral” rating and set a $11.00 price target for the company. in a report on Tuesday, February 12th. Cormark reiterated a “hold” rating on shares of Goldcorp in a report on Tuesday, January 29th. Raymond James reiterated a “market perform” rating and issued a $14.00 price target on shares of Goldcorp in a report on Tuesday, January 15th. Finally, Vertical Research downgraded shares of Goldcorp from a “buy” rating to a “hold” rating in a report on Wednesday, January 9th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $13.33.

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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: Cost of equity and a company’s balance sheet

Institutional Ownership by Quarter for Goldcorp (NYSE:GG)

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