Scotia Capital Inc. Sells 15,704 Shares of Goldcorp Inc. (GG)

Scotia Capital Inc. trimmed its position in shares of Goldcorp Inc. (NYSE:GG) (TSE:G) by 1.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 791,923 shares of the basic materials company’s stock after selling 15,704 shares during the quarter. Scotia Capital Inc. owned approximately 0.09% of Goldcorp worth $10,206,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the company. First Eagle Investment Management LLC boosted its stake in shares of Goldcorp by 4.9% during the second quarter. First Eagle Investment Management LLC now owns 34,814,349 shares of the basic materials company’s stock valued at $449,453,000 after purchasing an additional 1,628,150 shares in the last quarter. Carmignac Gestion boosted its stake in shares of Goldcorp by 4.1% during the second quarter. Carmignac Gestion now owns 27,336,612 shares of the basic materials company’s stock valued at $352,916,000 after purchasing an additional 1,082,557 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Goldcorp by 4.1% during the second quarter. Vanguard Group Inc. now owns 20,163,542 shares of the basic materials company’s stock valued at $260,311,000 after purchasing an additional 801,859 shares in the last quarter. FMR LLC boosted its stake in shares of Goldcorp by 163.8% during the first quarter. FMR LLC now owns 17,612,338 shares of the basic materials company’s stock valued at $256,931,000 after purchasing an additional 10,937,064 shares in the last quarter. Finally, CIBC World Markets Inc. boosted its stake in shares of Goldcorp by 91.2% during the second quarter. CIBC World Markets Inc. now owns 10,717,490 shares of the basic materials company’s stock valued at $138,363,000 after purchasing an additional 5,112,943 shares in the last quarter. 53.97% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Goldcorp Inc. (GG) traded up 0.30% during midday trading on Tuesday, reaching $13.42. The company’s stock had a trading volume of 2,691,096 shares. Goldcorp Inc. has a 12-month low of $11.91 and a 12-month high of $17.87. The company’s 50-day moving average price is $13.29 and its 200 day moving average price is $13.62. The company has a market capitalization of $11.61 billion, a P/E ratio of 24.62 and a beta of -0.07.

The business also recently announced a quarterly dividend, which was paid on Friday, September 22nd. Investors of record on Thursday, September 14th were issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.60%. The ex-dividend date was Wednesday, September 13th. Goldcorp’s dividend payout ratio is presently 14.55%.

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A number of brokerages have recently commented on GG. TD Securities cut their price target on Goldcorp from $21.00 to $20.00 and set a “buy” rating on the stock in a research note on Friday, August 4th. BidaskClub raised Goldcorp from a “sell” rating to a “hold” rating in a research note on Friday, August 11th. HC Wainwright reissued a “buy” rating on shares of Goldcorp in a research note on Monday, September 25th. Royal Bank Of Canada cut their price target on Goldcorp from $16.00 to $15.00 and set a “sector perform” rating on the stock in a research note on Tuesday, August 15th. Finally, Jefferies Group LLC set a $13.00 price target on Goldcorp and gave the company a “hold” rating in a research note on Tuesday, August 15th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the company’s stock. Goldcorp has a consensus rating of “Hold” and an average target price of $16.66.

Goldcorp Company Profile

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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Institutional Ownership by Quarter for Goldcorp (NYSE:GG)

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