Prospera Financial Services Inc decreased its position in Goldcorp Inc. (NYSE:GG) (TSE:G) by 8.7% during the first quarter, Holdings Channel reports. The fund owned 24,936 shares of the company’s stock after selling 2,373 shares during the period. Prospera Financial Services Inc’s holdings in Goldcorp were worth $370,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Edge Wealth Management LLC boosted its stake in Goldcorp by 224.5% in the first quarter. Edge Wealth Management LLC now owns 24,000 shares of the company’s stock worth $352,000 after buying an additional 16,605 shares during the last quarter. Capstone Asset Management Co. boosted its stake in Goldcorp by 2.4% in the first quarter. Capstone Asset Management Co. now owns 86,379 shares of the company’s stock worth $1,260,000 after buying an additional 2,040 shares during the last quarter. Bank of Montreal Can boosted its stake in Goldcorp by 2.3% in the first quarter. Bank of Montreal Can now owns 14,867,809 shares of the company’s stock worth $216,922,000 after buying an additional 340,079 shares during the last quarter. P.R. Herzig & Co. Inc. boosted its stake in Goldcorp by 39.7% in the first quarter. P.R. Herzig & Co. Inc. now owns 48,900 shares of the company’s stock worth $713,000 after buying an additional 13,900 shares during the last quarter. Finally, Gulf International Bank UK Ltd boosted its stake in Goldcorp by 1.4% in the first quarter. Gulf International Bank UK Ltd now owns 276,292 shares of the company’s stock worth $4,024,000 after buying an additional 3,850 shares during the last quarter. Institutional investors own 57.76% of the company’s stock.
Shares of Goldcorp Inc. (NYSE:GG) traded down 0.71% during mid-day trading on Thursday, hitting $15.39. The stock had a trading volume of 6,199,910 shares. The stock’s 50-day moving average is $15.36 and its 200 day moving average is $14.85. Goldcorp Inc. has a 12 month low of $11.91 and a 12 month high of $20.38. The company has a market cap of $13.14 billion, a PE ratio of 81.00 and a beta of 0.12. Goldcorp also saw some unusual options trading on Tuesday. Traders acquired 16,314 put options on the company. This is an increase of approximately 176% compared to the typical daily volume of 5,914 put options.
Goldcorp (NYSE:GG) last posted its earnings results on Wednesday, February 15th. The company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.03. Goldcorp had a positive return on equity of 0.24% and a negative net margin of 114.28%. The company had revenue of $898 million for the quarter, compared to the consensus estimate of $1.07 billion. On average, equities research analysts forecast that Goldcorp Inc. will post $0.34 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, March 24th. Shareholders of record on Thursday, March 16th were issued a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date of this dividend was Tuesday, March 14th. Goldcorp’s dividend payout ratio is -1.58%.
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GG has been the subject of several recent research reports. Deutsche Bank AG lifted their price objective on Goldcorp from $15.50 to $16.00 and gave the stock a “hold” rating in a report on Tuesday, March 21st. Royal Bank of Canada raised Goldcorp from an “underperform” rating to a “sector perform” rating and lifted their price objective for the stock from $15.00 to $17.00 in a report on Thursday, March 16th. They noted that the move was a valuation call. Jefferies Group LLC set a $15.00 price objective on Goldcorp and gave the stock a “hold” rating in a report on Tuesday, March 14th. Zacks Investment Research raised Goldcorp from a “sell” rating to a “hold” rating in a report on Tuesday, March 14th. Finally, TheStreet raised Goldcorp from a “d+” rating to a “c-” rating in a report on Friday, February 17th. Ten research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $18.19.
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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