Brokerages expect that Goldcorp Inc. (NYSE:GG) (TSE:G) will post sales of $880.13 million for the current quarter, Zacks reports. Two analysts have provided estimates for Goldcorp’s earnings, with estimates ranging from $831.19 million to $929.07 million. Goldcorp posted sales of $753 million during the same quarter last year, which suggests a positive year over year growth rate of 16.9%. The firm is scheduled to announce its next quarterly earnings results on Wednesday, July 26th.
According to Zacks, analysts expect that Goldcorp will report full year sales of $880.13 million for the current financial year, with estimates ranging from $3.12 billion to $3.93 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $3.63 billion per share, with estimates ranging from $3.08 billion to $4.14 billion. Zacks’ sales calculations are an average based on a survey of research firms that cover Goldcorp.
Goldcorp (NYSE:GG) last released its earnings results on Wednesday, April 26th. The basic materials company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.11. The firm had revenue of $882 million during the quarter, compared to the consensus estimate of $929.91 million. Goldcorp had a positive return on equity of 0.24% and a negative net margin of 114.28%. During the same period in the prior year, the company posted $0.10 EPS.
Several equities analysts have recently weighed in on the company. Morgan Stanley reiterated an “overweight” rating and issued a $17.00 price target on shares of Goldcorp in a research report on Monday, May 1st. Berenberg Bank reiterated a “hold” rating and issued a $16.50 price target on shares of Goldcorp in a research report on Wednesday, January 18th. Jefferies Group LLC lifted their price target on Goldcorp from $14.50 to $15.00 and gave the company a “hold” rating in a research report on Wednesday, April 19th. Credit Suisse Group AG set a $17.00 price target on Goldcorp and gave the company a “hold” rating in a research report on Thursday, January 19th. Finally, Zacks Investment Research upgraded Goldcorp from a “sell” rating to a “hold” rating in a research report on Tuesday, March 14th. Ten equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $17.89.
Goldcorp (NYSE:GG) traded up 2.595% during mid-day trading on Wednesday, hitting $14.035. The stock had a trading volume of 2,073,712 shares. The firm’s 50-day moving average is $14.81 and its 200 day moving average is $14.76. The company has a market cap of $12.01 billion, a price-to-earnings ratio of 48.065 and a beta of 0.12. Goldcorp has a 12 month low of $11.91 and a 12 month high of $20.38.
Large investors have recently added to or reduced their stakes in the stock. Highstreet Asset Management Inc. bought a new stake in Goldcorp during the first quarter worth $464,000. Raymond James Financial Services Advisors Inc. raised its stake in Goldcorp by 16.3% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 46,074 shares of the basic materials company’s stock worth $672,000 after buying an additional 6,458 shares during the period. Cidel Asset Management Inc. raised its stake in Goldcorp by 17.7% in the first quarter. Cidel Asset Management Inc. now owns 3,318,517 shares of the basic materials company’s stock worth $46,174,000 after buying an additional 498,751 shares during the period. Baird Financial Group Inc. raised its stake in Goldcorp by 28.9% in the first quarter. Baird Financial Group Inc. now owns 743,789 shares of the basic materials company’s stock worth $10,852,000 after buying an additional 166,933 shares during the period. Finally, Northwestern Mutual Wealth Management Co. raised its stake in 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 period. 57.76% of the stock is owned by institutional investors.
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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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