Goldcorp Inc. (GG) Receives “Hold” Rating from Jefferies Group LLC

Jefferies Group LLC reiterated their hold rating on shares of Goldcorp Inc. (NYSE:GG) (TSE:G) in a report released on Wednesday. The firm currently has a $15.00 price objective on the basic materials company’s stock.

Other equities research analysts also recently issued reports about the stock. BidaskClub downgraded shares of Goldcorp from a sell rating to a strong sell rating in a research note on Saturday, June 17th. Raymond James Financial, Inc. reaffirmed a market perform rating and issued a $17.00 price target on shares of Goldcorp in a research note on Thursday, June 15th. TD Securities reaffirmed a buy rating on shares of Goldcorp in a research note on Thursday, June 15th. Royal Bank Of Canada reaffirmed a hold rating and issued a $16.00 price target on shares of Goldcorp in a research note on Tuesday, June 13th. Finally, Barclays PLC reaffirmed an overweight rating and issued a $18.00 price target (down from $19.00) on shares of Goldcorp in a research note on Thursday, June 1st. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of Hold and an average target price of $17.82.

Goldcorp (NYSE:GG) traded up 1.64% during mid-day trading on Wednesday, hitting $13.61. 1,825,872 shares of the company were exchanged. Goldcorp has a 12-month low of $11.91 and a 12-month high of $20.38. The company has a market capitalization of $11.65 billion, a P/E ratio of 46.61 and a beta of 0.04. The company’s 50-day moving average is $13.67 and its 200 day moving average is $14.63.

Goldcorp (NYSE:GG) (TSE:G) last released its earnings results on Wednesday, April 26th. The basic materials company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.11. The business had revenue of $882 million for the quarter, compared to analyst estimates of $929.91 million. Goldcorp had a net margin of 7.31% and a return on equity of 2.72%. During the same quarter in the previous year, the business earned $0.10 earnings per share. Analysts expect that Goldcorp will post $0.37 EPS for the current year.

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The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 23rd. Shareholders of record on Thursday, June 15th will be given a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date of this dividend is Tuesday, June 13th. Goldcorp’s payout ratio is 26.67%.

Large investors have recently modified their holdings of the company. GSA Capital Partners LLP purchased a new stake in shares of Goldcorp during the fourth quarter worth about $137,000. Northwestern Mutual Wealth Management Co. increased its stake in shares of Goldcorp by 12.5% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 9,358 shares of the basic materials company’s stock worth $137,000 after buying an additional 1,037 shares during the last quarter. First Allied Advisory Services Inc. purchased a new stake in shares of Goldcorp during the fourth quarter worth about $146,000. BB&T Securities LLC purchased a new stake in shares of Goldcorp during the first quarter worth about $161,000. Finally, First Financial Equity Corporation purchased a new stake in shares of Goldcorp during the first quarter worth about $162,000. 56.85% of the stock is owned by institutional investors and hedge funds.

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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