Goldcorp Inc. (GG) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank
Zurcher Kantonalbank Zurich Cantonalbank reduced its holdings in Goldcorp Inc. (NYSE:GG) (TSE:G) by 8.6% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 382,112 shares of the basic materials company’s stock after selling 35,779 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Goldcorp were worth $5,243,000 as of its most recent filing with the SEC.
Other large investors have also modified their holdings of the company. Unigestion Holding SA acquired a new stake in shares of Goldcorp in the second quarter valued at about $5,042,000. Cambridge Investment Research Advisors Inc. lifted its stake in shares of Goldcorp by 24.2% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 21,476 shares of the basic materials company’s stock valued at $297,000 after buying an additional 4,185 shares during the period. The Manufacturers Life Insurance Company lifted its stake in shares of Goldcorp by 8.4% in the first quarter. The Manufacturers Life Insurance Company now owns 6,620,061 shares of the basic materials company’s stock valued at $91,489,000 after buying an additional 511,860 shares during the period. Assenagon Asset Management S.A. bought a new stake in shares of Goldcorp in the second quarter valued at about $19,927,000. Finally, Allianz Asset Management GmbH lifted its stake in shares of Goldcorp by 6.3% in the first quarter. Allianz Asset Management GmbH now owns 2,105,760 shares of the basic materials company’s stock valued at $29,056,000 after buying an additional 124,610 shares during the period. 54.67% of the stock is currently owned by institutional investors.
Several equities research analysts recently weighed in on GG shares. Jefferies Financial Group reiterated a “hold” rating and issued a $13.00 target price on shares of Goldcorp in a research note on Monday, August 6th. Canaccord Genuity upgraded shares of Goldcorp from a “hold” rating to a “buy” rating in a research note on Monday, April 23rd. Scotiabank reiterated a “buy” rating and issued a $17.00 target price on shares of Goldcorp in a research note on Friday, July 27th. ValuEngine upgraded shares of Goldcorp from a “sell” rating to a “hold” rating in a research note on Saturday, June 2nd. Finally, TheStreet cut shares of Goldcorp from a “b-” rating to a “c+” rating in a research note on Wednesday, August 1st. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Goldcorp presently has a consensus rating of “Buy” and a consensus price target of $17.35.
Goldcorp (NYSE:GG) (TSE:G) last announced its quarterly earnings results on Wednesday, July 25th. The basic materials company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.02). The business had revenue of $793.00 million for the quarter, compared to the consensus estimate of $871.54 million. Goldcorp had a return on equity of 1.97% and a net margin of 8.61%. During the same quarter in the prior year, the business earned $0.16 EPS. sell-side analysts anticipate that Goldcorp Inc. will post 0.28 earnings per share for the current year.
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.
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