Goldcorp Inc. Expected to Post FY2017 Earnings of $0.42 Per Share (GG)
Goldcorp Inc. (NYSE:GG) (TSE:G) – Analysts at Jefferies Group increased their FY2017 EPS estimates for Goldcorp in a research note issued to investors on Tuesday. Jefferies Group analyst C. Lafemina now expects that the basic materials company will post earnings of $0.42 per share for the year, up from their previous forecast of $0.40. Jefferies Group has a “Hold” rating and a $16.00 price objective on the stock.
Several other brokerages have also recently issued reports on GG. Scotiabank set a $18.00 target price on Goldcorp and gave the company a “buy” rating in a research report on Tuesday. Canaccord Genuity cut Goldcorp from a “buy” rating to a “hold” rating in a research report on Wednesday. CIBC increased their target price on Goldcorp from $17.50 to $20.00 and gave the company an “outperform” rating in a research report on Wednesday. TD Securities raised Goldcorp from a “buy” rating to an “action list buy” rating and increased their target price for the company from $20.00 to $22.00 in a research report on Wednesday. Finally, Raymond James Financial increased their target price on Goldcorp from $17.00 to $18.00 and gave the company a “market perform” rating in a research report on Wednesday. Ten investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Goldcorp presently has an average rating of “Buy” and an average target price of $17.39.
Goldcorp (NYSE:GG) (TSE:G) last announced its earnings results on Wednesday, October 25th. The basic materials company reported $0.09 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.09. Goldcorp had a return on equity of 3.27% and a net margin of 14.91%.
Institutional investors have recently bought and sold shares of the company. Private Advisor Group LLC acquired a new stake in shares of Goldcorp in the 3rd quarter worth $137,000. Highlander Capital Management LLC boosted its position in shares of Goldcorp by 4.7% in the 2nd quarter. Highlander Capital Management LLC now owns 11,125 shares of the basic materials company’s stock worth $142,000 after purchasing an additional 500 shares in the last quarter. First Allied Advisory Services Inc. acquired a new stake in shares of Goldcorp in the 2nd quarter worth $155,000. Koch Industries Inc. acquired a new stake in shares of Goldcorp in the 2nd quarter worth $163,000. Finally, Stephens Inc. AR acquired a new stake in shares of Goldcorp in the 3rd quarter worth $173,000. 53.42% of the stock is owned by hedge funds and other institutional investors.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 22nd. Stockholders of record on Thursday, December 14th were given a $0.02 dividend. The ex-dividend date was Wednesday, December 13th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.56%. Goldcorp’s payout ratio is 13.33%.
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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