Goldcorp (G) Downgraded to Sell at CIBC

CIBC lowered shares of Goldcorp (TSE:G) (NYSE:GG) from a buy rating to a sell rating in a report published on Thursday.

Other research analysts have also recently issued reports about the stock. TD Securities dropped their target price on shares of Goldcorp to C$25.00 and set a buy rating on the stock in a research note on Friday, August 4th. Royal Bank Of Canada upgraded shares of Goldcorp from a sector perform rating to an outperform rating and boosted their target price for the company from C$15.00 to C$18.00 in a research note on Wednesday, November 1st. Scotiabank dropped their target price on shares of Goldcorp to C$22.00 and set an outperform rating on the stock in a research note on Tuesday, October 31st. J P Morgan Chase & Co boosted their target price on shares of Goldcorp from C$21.00 to C$23.60 in a research note on Wednesday, November 15th. Finally, Eight Capital reiterated a buy rating on shares of Goldcorp in a research note on Thursday, November 16th. One analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the stock. The stock has a consensus rating of Buy and a consensus target price of C$22.35.

Goldcorp (TSE:G) traded down C$0.17 on Thursday, reaching C$16.14. 2,515,765 shares of the company’s stock were exchanged, compared to its average volume of 2,540,619. Goldcorp has a 52-week low of C$15.56 and a 52-week high of C$23.35.

In related news, insider Russell David Ball sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of C$16.82, for a total transaction of C$33,640.00. Also, Director De La Vega Blanca Treviño bought 7,150 shares of the firm’s stock in a transaction that occurred on Friday, November 17th. The shares were purchased at an average cost of C$13.45 per share, for a total transaction of C$96,167.50. In the last three months, insiders sold 7,659 shares of company stock worth $126,078.

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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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