Zacks: Brokerages Expect Goldcorp Inc. (NYSE:GG) Will Post Earnings of $0.10 Per Share

Equities research analysts predict that Goldcorp Inc. (NYSE:GG) (TSE:G) will report $0.10 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Goldcorp’s earnings, with the lowest EPS estimate coming in at $0.07 and the highest estimate coming in at $0.14. Goldcorp posted earnings per share of ($0.01) during the same quarter last year, which indicates a positive year over year growth rate of 1,100%. The business is expected to issue its next earnings results after the market closes on Wednesday, July 26th.

On average, analysts expect that Goldcorp will report full year earnings of $0.36 per share for the current financial year, with EPS estimates ranging from $0.26 to $0.50. For the next financial year, analysts anticipate that the company will post earnings of $0.49 per share, with EPS estimates ranging from $0.34 to $0.67. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms that cover Goldcorp.

Goldcorp (NYSE:GG) (TSE:G) last announced its quarterly earnings results on Wednesday, April 26th. The basic materials company reported $0.20 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.11. Goldcorp had a net margin of 7.31% and a return on equity of 2.72%. The business had revenue of $882 million for the quarter, compared to analysts’ expectations of $929.91 million. During the same quarter last year, the firm earned $0.10 EPS.

GG has been the topic of a number of recent research reports. TD Securities restated a “buy” rating on shares of Goldcorp in a report on Thursday, June 15th. Deutsche Bank AG restated a “hold” rating and issued a $15.00 price objective (down previously from $16.00) on shares of Goldcorp in a report on Sunday, June 25th. Jefferies Group LLC restated a “hold” rating and issued a $15.00 price objective on shares of Goldcorp in a report on Wednesday, June 21st. Royal Bank Of Canada restated a “hold” rating and issued a $16.00 price objective on shares of Goldcorp in a report on Tuesday, June 13th. Finally, BidaskClub upgraded shares of Goldcorp from a “sell” rating to a “hold” rating in a report on Tuesday, July 18th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $17.27.

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Shares of Goldcorp (GG) traded down 0.984% during trading on Friday, reaching $13.585. 3,659,478 shares of the company traded hands. The firm’s 50 day moving average is $13.27 and its 200-day moving average is $14.64. Goldcorp has a 12-month low of $11.91 and a 12-month high of $19.35. The stock has a market capitalization of $11.63 billion, a P/E ratio of 46.524 and a beta of 0.02.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. State Board of Administration of Florida Retirement System increased its position in shares of Goldcorp by 39.0% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 16,381 shares of the basic materials company’s stock worth $223,000 after buying an additional 4,600 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Goldcorp by 8.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,030,884 shares of the basic materials company’s stock worth $41,220,000 after buying an additional 236,271 shares during the period. GSA Capital Partners LLP bought a new position in shares of Goldcorp during the fourth quarter worth $137,000. UBS Asset Management Americas Inc. increased its position in shares of Goldcorp by 7.2% in the fourth quarter. UBS Asset Management Americas Inc. now owns 3,459,736 shares of the basic materials company’s stock worth $47,160,000 after buying an additional 231,939 shares during the period. Finally, Creative Planning increased its position in shares of Goldcorp by 2.7% in the first quarter. Creative Planning now owns 34,457 shares of the basic materials company’s stock worth $503,000 after buying an additional 896 shares during the period. Institutional investors own 56.62% of the company’s stock.

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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Earnings History and Estimates for Goldcorp (NYSE:GG)

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