Jefferies Group Comments on Goldcorp Inc.’s FY2016 Earnings (GG)

Goldcorp Inc. (NYSE:GG) (TSE:G) – Equities research analysts at Jefferies Group cut their FY2016 earnings per share (EPS) estimates for Goldcorp in a report released on Tuesday. Jefferies Group analyst C. Lafemina now forecasts that the firm will post earnings of $0.26 per share for the year, down from their prior forecast of $0.30. Jefferies Group also issued estimates for Goldcorp’s FY2019 earnings at $0.65 EPS.

Goldcorp (NYSE:GG) last posted its earnings results on Wednesday, October 26th. The company reported $0.11 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.11. The company earned $1.15 billion during the quarter, compared to analysts’ expectations of $1.04 billion. Goldcorp had a negative net margin of 114.28% and a positive return on equity of 0.24%. Goldcorp’s quarterly revenue was down 11.4% on a year-over-year basis. During the same period last year, the company posted ($0.04) earnings per share.

COPYRIGHT VIOLATION NOTICE: “Jefferies Group Comments on Goldcorp Inc.’s FY2016 Earnings (GG)” was posted by Community Financial News and is owned by of Community Financial News. If you are accessing this report on another site, it was illegally copied and reposted in violation of United States & international trademark and copyright legislation. The original version of this report can be read at https://www.com-unik.info/2017/01/11/jefferies-group-comments-on-goldcorp-inc-s-fy2016-earnings-gg.html.

Earnings History and Estimates for Goldcorp (NYSE:GG)

Several other analysts have also recently commented on GG. Deutsche Bank AG upgraded shares of Goldcorp from a “sell” rating to a “hold” rating and lifted their price objective for the company from $15.00 to $16.00 in a research note on Monday, October 3rd. Citigroup Inc. restated a “neutral” rating on shares of Goldcorp in a research note on Monday, October 17th. Zacks Investment Research cut shares of Goldcorp from a “hold” rating to a “sell” rating in a research note on Wednesday, October 19th. Desjardins upgraded shares of Goldcorp from a “hold” rating to a “buy” rating in a research note on Thursday, October 20th. Finally, Canaccord Genuity upgraded shares of Goldcorp from a “hold” rating to a “buy” rating in a research note on Monday, October 24th. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $18.65.

Goldcorp (NYSE:GG) traded down 1.45% during trading on Wednesday, reaching $14.24. 4,089,646 shares of the company traded hands. The company’s market capitalization is $12.16 billion. Goldcorp has a 52 week low of $9.46 and a 52 week high of $20.38. The firm has a 50-day moving average price of $13.31 and a 200-day moving average price of $15.82.

COPYRIGHT VIOLATION NOTICE: “Jefferies Group Comments on Goldcorp Inc.’s FY2016 Earnings (GG)” was posted by Community Financial News and is owned by of Community Financial News. If you are accessing this report on another site, it was illegally copied and reposted in violation of United States & international trademark and copyright legislation. The original version of this report can be read at https://www.com-unik.info/2017/01/11/jefferies-group-comments-on-goldcorp-inc-s-fy2016-earnings-gg.html.

A number of large investors have recently modified their holdings of the company. State Board of Administration of Florida Retirement System bought a new stake in shares of Goldcorp during the second quarter valued at approximately $227,000. Cidel Asset Management Inc. raised its stake in Goldcorp by 0.5% in the second quarter. Cidel Asset Management Inc. now owns 2,044,382 shares of the company’s stock worth $38,848,000 after buying an additional 11,087 shares during the last quarter. Gratus Capital LLC raised its stake in Goldcorp by 0.7% in the second quarter. Gratus Capital LLC now owns 399,399 shares of the company’s stock worth $7,640,000 after buying an additional 2,949 shares during the last quarter. CIBC Asset Management Inc raised its stake in Goldcorp by 7.4% in the second quarter. CIBC Asset Management Inc now owns 8,160,433 shares of the company’s stock worth $155,483,000 after buying an additional 560,864 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new stake in Goldcorp during the second quarter worth about $3,265,000. 57.17% of the stock is owned by institutional investors.

About Goldcorp

Goldcorp Inc is a gold producer engaged in the operation, exploration, development and acquisition of precious metal properties in Canada, the United States, Mexico, and Central and South America. The Company is engaged in the sale of gold, silver, lead, zinc and copper. The Company’s segments include Red Lake Gold Mines Ontario Partnership (Red Lake), Goldcorp Canada Ltd./Goldcorp Inc (Porcupine), Musselwhite, Les Mines Opinaca Ltee (Eleonore), Minera Penasquito SA de C.V.

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