Somewhat Positive News Coverage Extremely Likely to Affect Goldcorp (GG) Stock Price

Media coverage about Goldcorp (NYSE:GG) (TSE:G) has trended somewhat positive this week, AlphaOne reports. AlphaOne, a subsidiary of Accern, rates the sentiment of media coverage by reviewing more than 20 million blog and news sources in real-time. AlphaOne ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Goldcorp earned a media sentiment score of 0.11 on AlphaOne’s scale. AlphaOne also assigned press coverage about the basic materials company an impact score of 100 out of 100, indicating that recent media coverage is extremely likely to have an effect on the company’s share price in the immediate future.

These are some of the news stories that may have impacted Alpha One Sentiment’s scoring:

Several research analysts have issued reports on the company. Jefferies Group LLC set a $15.00 price objective on shares of Goldcorp and gave the company a “hold” rating in a research report on Friday. Morgan Stanley restated an “overweight” rating and issued a $17.00 price objective on shares of Goldcorp in a research report on Monday, May 1st. Scotiabank restated an “outperform” rating and issued a $19.00 price objective on shares of Goldcorp in a research report on Thursday, April 27th. Deutsche Bank AG upped their price objective on shares of Goldcorp from $15.50 to $16.00 and gave the company a “hold” rating in a research report on Tuesday, March 21st. Finally, Royal Bank of Canada upgraded shares of Goldcorp from an “underperform” rating to a “sector perform” rating and upped their price objective for the company from $15.00 to $17.00 in a research report on Thursday, March 16th. They noted that the move was a valuation call. Nine equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Goldcorp presently has a consensus rating of “Buy” and a consensus price target of $18.04.

Goldcorp (NYSE:GG) last issued its quarterly earnings results on Wednesday, April 26th. The basic materials company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.11. Goldcorp had a negative net margin of 114.28% and a positive return on equity of 0.24%. The business had revenue of $882 million for the quarter, compared to the consensus estimate of $929.91 million. During the same quarter in the previous year, the firm earned $0.10 earnings per share.

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About Goldcorp

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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