Royal Bank Of Canada upgraded shares of Goldcorp Inc. (NYSE:GG) (TSE:G) from a sector perform rating to an outperform rating in a research report sent to investors on Wednesday, MarketBeat Ratings reports. They currently have $18.00 price target on the basic materials company’s stock, up from their prior price target of $15.00.
Several other equities analysts have also issued reports on the stock. Jefferies Group LLC set a $13.00 target price on shares of Goldcorp and gave the company a hold rating in a report on Tuesday, August 15th. BidaskClub upgraded shares of Goldcorp from a sell rating to a hold rating in a report on Tuesday, July 18th. Macquarie upgraded shares of Goldcorp from a neutral rating to an outperform rating in a report on Wednesday, July 12th. Scotiabank set a $18.00 price objective on shares of Goldcorp and gave the stock an outperform rating in a report on Thursday, July 27th. Finally, Zacks Investment Research lowered shares of Goldcorp from a hold rating to a sell rating in a report on Friday, July 14th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $16.83.
Shares of Goldcorp (NYSE:GG) traded down $0.07 during mid-day trading on Wednesday, reaching $13.10. 5,695,165 shares of the company’s stock were exchanged, compared to its average volume of 5,890,000. Goldcorp has a one year low of $11.91 and a one year high of $17.87. The company has a quick ratio of 0.69, a current ratio of 1.00 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $11.35 billion, a P/E ratio of 24.64, a PEG ratio of 3.28 and a beta of -0.07.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in GG. IHT Wealth Management LLC acquired a new position in Goldcorp during the second quarter worth about $1,441,000. Nomura Asset Management Co. Ltd. raised its position in Goldcorp by 55.6% in the first quarter. Nomura Asset Management Co. Ltd. now owns 8,400 shares of the basic materials company’s stock worth $123,000 after acquiring an additional 3,000 shares in the last quarter. Highlander Capital Management LLC raised its position in Goldcorp by 4.7% in the second quarter. Highlander Capital Management LLC now owns 11,125 shares of the basic materials company’s stock worth $142,000 after acquiring an additional 500 shares in the last quarter. First Allied Advisory Services Inc. bought a new stake in Goldcorp in the second quarter worth about $155,000. Finally, Bourgeon Capital Management LLC bought a new stake in Goldcorp in the second quarter worth about $161,000. Hedge funds and other institutional investors own 53.78% of the company’s stock.
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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