Goldcorp Inc. (GG) Stake Raised by Sentry Investment Management LLC

Sentry Investment Management LLC boosted its holdings in shares of Goldcorp Inc. (NYSE:GG) (TSE:G) by 18.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 263,002 shares of the basic materials company’s stock after buying an additional 40,480 shares during the period. Sentry Investment Management LLC’s holdings in Goldcorp were worth $2,683,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of GG. First Manhattan Co. acquired a new position in Goldcorp during the third quarter valued at $133,000. Private Advisor Group LLC acquired a new position in Goldcorp during the third quarter valued at $135,000. Boston Partners acquired a new position in Goldcorp during the second quarter valued at $174,000. Centaurus Financial Inc. acquired a new position in Goldcorp during the second quarter valued at $190,000. Finally, Brave Asset Management Inc. acquired a new position in Goldcorp during the third quarter valued at $220,000. 53.93% of the stock is currently owned by hedge funds and other institutional investors.

Several research firms recently weighed in on GG. Citigroup dropped their price target on Goldcorp from $16.00 to $14.00 and set a “buy” rating on the stock in a research report on Wednesday, August 29th. Raymond James lowered their target price on Goldcorp from $18.00 to $17.00 and set a “market perform” rating on the stock in a research note on Thursday, September 20th. Royal Bank of Canada restated a “buy” rating and issued a $16.00 target price on shares of Goldcorp in a research note on Wednesday, September 19th. JPMorgan Chase & Co. lowered their target price on Goldcorp from $18.00 to $16.00 and set an “overweight” rating on the stock in a research note on Monday, September 17th. Finally, TheStreet downgraded Goldcorp from a “b-” rating to a “c+” rating in a research note on Wednesday, August 1st. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $15.58.

Shares of NYSE GG opened at $9.19 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.48 and a debt-to-equity ratio of 0.18. Goldcorp Inc. has a one year low of $8.42 and a one year high of $15.55. The stock has a market capitalization of $8.11 billion, a price-to-earnings ratio of 22.98, a PEG ratio of 12.65 and a beta of 0.09.

Goldcorp (NYSE:GG) (TSE:G) last released its quarterly earnings results on Wednesday, October 24th. The basic materials company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.06). The company had revenue of $621.00 million for the quarter, compared to the consensus estimate of $714.46 million. Goldcorp had a return on equity of 0.97% and a net margin of 2.47%. On average, equities research analysts anticipate that Goldcorp Inc. will post 0.07 EPS for the current fiscal year.

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About Goldcorp

Goldcorp Inc acquires, explores for, develops, and operates precious metal properties in Canada, the United States, Mexico, and Central and South America. It primarily explores for gold, silver, lead, zinc, and copper deposits. The company's principal producing mining properties include the Éléonore, Musselwhite, Porcupine, and Red Lake mines in Canada; the Peñasquito mine in Mexico; the Cerro Negro mine in Argentina; and the Pueblo Viejo mine in the Dominican Republic.

Further Reading: How to Calculate Compound Annual Growth Rate (CAGR)

Institutional Ownership by Quarter for Goldcorp (NYSE:GG)

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