Goldcorp Inc. to Post Q4 2018 Earnings of $0.01 Per Share, Cormark Forecasts (GG)

Goldcorp Inc. (NYSE:GG) (TSE:G) – Equities research analysts at Cormark reduced their Q4 2018 earnings estimates for shares of Goldcorp in a research report issued on Thursday, October 25th. Cormark analyst R. Gray now anticipates that the basic materials company will post earnings of $0.01 per share for the quarter, down from their previous forecast of $0.04. Cormark also issued estimates for Goldcorp’s Q1 2019 earnings at $0.06 EPS, Q2 2019 earnings at $0.07 EPS and FY2019 earnings at $0.28 EPS.

Goldcorp (NYSE:GG) (TSE:G) last announced its quarterly earnings results on Wednesday, October 24th. The basic materials company reported ($0.08) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.02) by ($0.06). Goldcorp had a net margin of 8.61% and a return on equity of 1.97%. The firm had revenue of $621.00 million during the quarter, compared to the consensus estimate of $714.46 million.



GG has been the subject of several other reports. ValuEngine downgraded shares of Goldcorp from a “sell” rating to a “strong sell” rating in a report on Tuesday, September 4th. Citigroup downgraded shares of Goldcorp from a “buy” rating to a “neutral” rating and set a $12.00 price target for the company. in a report on Tuesday, September 25th. BMO Capital Markets raised shares of Goldcorp from a “market perform” rating to an “outperform” rating and set a $14.79 price target for the company in a report on Thursday. They noted that the move was a valuation call. Raymond James cut their price target on shares of Goldcorp from $18.00 to $17.00 and set a “market perform” rating for the company in a report on Thursday, September 20th. Finally, TheStreet cut shares of Goldcorp from a “b-” rating to a “c+” rating in a research report on Wednesday, August 1st. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $15.65.

Shares of NYSE:GG opened at $8.84 on Friday. The company has a quick ratio of 0.57, a current ratio of 1.01 and a debt-to-equity ratio of 0.17. Goldcorp has a one year low of $8.42 and a one year high of $15.55. The firm has a market capitalization of $9.18 billion, a price-to-earnings ratio of 22.10, a PEG ratio of 7.41 and a beta of -0.09.

Several institutional investors have recently bought and sold shares of the company. Commonwealth Equity Services LLC raised its position in Goldcorp by 9.3% in the 1st quarter. Commonwealth Equity Services LLC now owns 43,865 shares of the basic materials company’s stock worth $606,000 after purchasing an additional 3,747 shares during the period. P.R. Herzig & Co. Inc. raised its position in Goldcorp by 18.0% in the 2nd quarter. P.R. Herzig & Co. Inc. now owns 28,800 shares of the basic materials company’s stock worth $395,000 after purchasing an additional 4,400 shares during the period. Foundation Resource Management Inc. raised its position in Goldcorp by 0.8% in the 2nd quarter. Foundation Resource Management Inc. now owns 741,390 shares of the basic materials company’s stock worth $10,164,000 after purchasing an additional 5,896 shares during the period. DORCHESTER WEALTH MANAGEMENT Co raised its position in Goldcorp by 1.7% in the 3rd quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 355,892 shares of the basic materials company’s stock worth $3,618,000 after purchasing an additional 6,035 shares during the period. Finally, Howland Capital Management LLC raised its position in Goldcorp by 51.6% in the 2nd quarter. Howland Capital Management LLC now owns 23,800 shares of the basic materials company’s stock worth $326,000 after purchasing an additional 8,100 shares during the period. Hedge funds and other institutional investors own 53.97% of the company’s stock.

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. 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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Earnings History and Estimates for Goldcorp (NYSE:GG)

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