Goldcorp (NYSE:GG) (TSE:G) – Equities research analysts at National Bank Financial upped their FY2018 earnings per share (EPS) estimates for Goldcorp in a research note issued on Monday, April 9th. National Bank Financial analyst M. Parkin now expects that the basic materials company will earn $0.35 per share for the year, up from their previous estimate of $0.29. National Bank Financial also issued estimates for Goldcorp’s FY2019 earnings at $0.79 EPS.
Several other brokerages have also recently issued reports on GG. Scotiabank increased their target price on Goldcorp from $17.00 to $17.50 and gave the company an “outperform” rating in a research report on Wednesday, January 17th. Deutsche Bank increased their target price on Goldcorp from $16.00 to $16.50 and gave the company a “hold” rating in a research report on Wednesday. Zacks Investment Research raised Goldcorp from a “hold” rating to a “buy” rating and set a $15.00 target price on the stock in a research report on Monday, January 8th. CIBC increased their target price on Goldcorp from $17.50 to $20.00 and gave the company an “outperform” rating in a research report on Wednesday, January 17th. Finally, TD Securities raised Goldcorp from a “buy” rating to an “action list buy” rating and increased their target price for the company from $20.00 to $22.00 in a research report on Wednesday, January 17th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $17.62.
Goldcorp (NYSE:GG) (TSE:G) last announced its quarterly earnings data on Wednesday, February 14th. The basic materials company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.01). Goldcorp had a return on equity of 3.08% and a net margin of 19.22%. The firm had revenue of $853.00 million during the quarter, compared to the consensus estimate of $869.94 million.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 23rd. Stockholders of record on Thursday, March 15th were issued a dividend of $0.02 per share. The ex-dividend date was Wednesday, March 14th. This represents a $0.08 annualized dividend and a dividend yield of 0.56%. Goldcorp’s dividend payout ratio is presently 20.00%.
Several institutional investors and hedge funds have recently modified their holdings of GG. Bank of New York Mellon Corp lifted its holdings in shares of Goldcorp by 73.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,824,168 shares of the basic materials company’s stock valued at $23,641,000 after purchasing an additional 771,123 shares during the last quarter. Stifel Financial Corp lifted its holdings in shares of Goldcorp by 152.5% during the 3rd quarter. Stifel Financial Corp now owns 148,823 shares of the basic materials company’s stock valued at $1,932,000 after purchasing an additional 89,872 shares during the last quarter. Private Advisor Group LLC purchased a new stake in shares of Goldcorp during the 3rd quarter valued at $137,000. AMP Capital Investors Ltd lifted its holdings in shares of Goldcorp by 5.4% during the 3rd quarter. AMP Capital Investors Ltd now owns 271,921 shares of the basic materials company’s stock valued at $3,522,000 after purchasing an additional 13,927 shares during the last quarter. Finally, Cubist Systematic Strategies LLC lifted its holdings in shares of Goldcorp by 596.7% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 101,023 shares of the basic materials company’s stock valued at $1,310,000 after purchasing an additional 86,523 shares during the last quarter. Hedge funds and other institutional investors own 52.29% of the company’s stock.
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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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