Goldcorp Inc. (GG) PT Lowered to $17.00

Goldcorp Inc. (NYSE:GG) (TSE:G) had its target price trimmed by Scotiabank from $18.00 to $17.00 in a research report sent to investors on Monday morning. The brokerage currently has an outperform rating on the basic materials company’s stock.

A number of other research analysts have also recently commented on the company. Zacks Investment Research cut Goldcorp from a hold rating to a sell rating in a research note on Monday, October 9th. Macquarie upgraded Goldcorp from a neutral rating to an outperform rating in a report on Wednesday, July 12th. Morgan Stanley reiterated an overweight rating on shares of Goldcorp in a report on Friday, July 21st. BidaskClub upgraded Goldcorp from a sell rating to a hold rating in a report on Tuesday, July 18th. Finally, Royal Bank Of Canada set a $16.00 price target on Goldcorp and gave the company a hold rating in a report on Tuesday, July 18th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of $16.83.

Goldcorp (NYSE:GG) traded down $0.07 on Monday, hitting $13.10. The stock had a trading volume of 5,694,710 shares, compared to its average volume of 6,383,688. The stock has a market capitalization of $11.32 billion, a P/E ratio of 24.64 and a beta of -0.07.

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A number of institutional investors have recently bought and sold shares of GG. State Board of Administration of Florida Retirement System lifted its holdings in Goldcorp by 21.4% during the first quarter. State Board of Administration of Florida Retirement System now owns 19,881 shares of the basic materials company’s stock worth $290,000 after buying an additional 3,500 shares during the period. Parametric Portfolio Associates LLC lifted its holdings in Goldcorp by 48.3% during the first quarter. Parametric Portfolio Associates LLC now owns 130,857 shares of the basic materials company’s stock worth $1,909,000 after buying an additional 42,613 shares during the period. Vanguard Group Inc. lifted its holdings in Goldcorp by 4.4% during the first quarter. Vanguard Group Inc. now owns 19,361,683 shares of the basic materials company’s stock worth $282,487,000 after buying an additional 814,810 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Goldcorp by 13.1% during the first quarter. Dimensional Fund Advisors LP now owns 3,428,082 shares of the basic materials company’s stock worth $50,016,000 after buying an additional 397,198 shares during the period. Finally, Barings LLC purchased a new stake in Goldcorp during the first quarter worth $259,000. Institutional investors own 53.78% 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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