Goldcorp Inc. Forecasted to Post FY2018 Earnings of $0.05 Per Share (GG)

Goldcorp Inc. (NYSE:GG) (TSE:G) – Analysts at National Bank Financial dropped their FY2018 earnings estimates for Goldcorp in a research report issued on Thursday, October 25th. National Bank Financial analyst M. Parkin now anticipates that the basic materials company will post earnings per share of $0.05 for the year, down from their previous estimate of $0.10.

Goldcorp (NYSE:GG) (TSE:G) last posted its quarterly earnings data on Wednesday, October 24th. The basic materials company reported ($0.08) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.02) by ($0.06). The firm had revenue of $621.00 million for the quarter, compared to the consensus estimate of $714.46 million. Goldcorp had a return on equity of 0.97% and a net margin of 2.47%.



A number of other research firms also recently issued reports on GG. Royal Bank of Canada reiterated a “buy” rating and set a $16.00 price objective on shares of Goldcorp in a report on Wednesday, September 19th. Canaccord Genuity reiterated a “buy” rating on shares of Goldcorp in a report on Thursday. Barclays initiated coverage on Goldcorp in a report on Wednesday, October 10th. They set an “overweight” rating and a $14.00 price objective for the company. Scotiabank reiterated a “buy” rating and set a $17.00 price objective on shares of Goldcorp in a report on Friday, July 27th. Finally, Zacks Investment Research downgraded Goldcorp from a “hold” rating to a “sell” rating in a report on Tuesday, July 3rd. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Hold” and an average price target of $15.65.

NYSE:GG opened at $8.84 on Monday. The company has a quick ratio of 0.57, a current ratio of 1.01 and a debt-to-equity ratio of 0.17. The stock has a market cap of $7.69 billion, a P/E ratio of 22.10, a PEG ratio of 6.20 and a beta of -0.09. Goldcorp has a 52-week low of $8.42 and a 52-week high of $15.55.

Several hedge funds and other institutional investors have recently modified their holdings of GG. Northern Trust Corp boosted its stake in shares of Goldcorp by 104.5% during the 1st quarter. Northern Trust Corp now owns 819,036 shares of the basic materials company’s stock worth $11,318,000 after acquiring an additional 418,604 shares during the period. Commonwealth Equity Services LLC boosted its stake in shares of Goldcorp by 9.3% during the 1st quarter. Commonwealth Equity Services LLC now owns 43,865 shares of the basic materials company’s stock worth $606,000 after acquiring an additional 3,747 shares during the period. Allianz Asset Management GmbH boosted its stake in shares of Goldcorp by 6.3% during the 1st quarter. Allianz Asset Management GmbH now owns 2,105,760 shares of the basic materials company’s stock worth $29,056,000 after acquiring an additional 124,610 shares during the period. Foundation Resource Management Inc. boosted its stake in shares of Goldcorp by 0.8% during the 2nd quarter. Foundation Resource Management Inc. now owns 741,390 shares of the basic materials company’s stock worth $10,164,000 after acquiring an additional 5,896 shares during the period. Finally, Assenagon Asset Management S.A. bought a new position in shares of Goldcorp during the 2nd quarter worth approximately $19,927,000. 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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