Goldcorp (G) Upgraded to “Outperform” by BMO Capital Markets

BMO Capital Markets upgraded shares of Goldcorp (TSE:G) (NYSE:GG) from a market perform rating to an outperform rating in a research report sent to investors on Friday.

A number of other equities research analysts have also issued reports on G. Canaccord Genuity reduced their price target on Goldcorp from C$25.00 to C$23.00 in a research report on Tuesday, July 24th. National Bank Financial reduced their price target on Goldcorp from C$28.00 to C$27.00 in a research report on Saturday, July 14th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average target price of C$19.94.

Shares of Goldcorp stock opened at C$11.82 on Friday. Goldcorp has a 12 month low of C$11.00 and a 12 month high of C$19.32.

Goldcorp (TSE:G) (NYSE:GG) last announced its earnings results on Wednesday, October 24th. The company reported C($0.10) EPS for the quarter, missing analysts’ consensus estimates of C($0.03) by C($0.07). Goldcorp had a net margin of 28.37% and a return on equity of 6.90%. The firm had revenue of C$811.59 million for the quarter, compared to analysts’ expectations of C$925.94 million.

In other news, insider Patrick James Merrin sold 23,967 shares of the firm’s stock in a transaction dated Thursday, September 13th. The stock was sold at an average price of C$13.29, for a total transaction of C$318,521.43.

About Goldcorp

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.

Featured Story: How to interpret a stock’s beta number

Analyst Recommendations for Goldcorp (TSE:G)

Receive News & Ratings for Goldcorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Goldcorp and related companies with's FREE daily email newsletter.

Leave a Reply