Goldcorp’s (GG) “Buy” Rating Reaffirmed at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Goldcorp Inc. (NYSE:GG) (TSE:G) in a research note released on Monday morning.

Other equities research analysts also recently issued reports about the stock. Jefferies Group LLC set a $13.00 price target on shares of Goldcorp and gave the stock a hold rating in a report on Tuesday, August 15th. Royal Bank Of Canada reiterated a hold rating and set a $16.00 price target on shares of Goldcorp in a report on Tuesday, June 13th. BidaskClub upgraded shares of Goldcorp from a sell rating to a hold rating in a report on Tuesday, July 18th. Macquarie upgraded shares of Goldcorp from a neutral rating to an outperform rating in a report on Wednesday, July 12th. Finally, Scotiabank set a $18.00 price target on shares of Goldcorp and gave the stock an outperform rating in a report on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the company. Goldcorp currently has a consensus rating of Hold and a consensus price target of $16.64.

Shares of Goldcorp (NYSE:GG) opened at 12.775 on Monday. The stock has a market cap of $11.05 billion, a PE ratio of 23.440 and a beta of -0.02. The stock has a 50 day moving average of $13.22 and a 200 day moving average of $13.84. Goldcorp has a 1-year low of $11.91 and a 1-year high of $17.87.

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The firm also recently declared a quarterly dividend, which was paid on Friday, September 22nd. Shareholders of record on Thursday, September 14th were given a dividend of $0.02 per share. The ex-dividend date of this dividend was Wednesday, September 13th. This represents a $0.08 dividend on an annualized basis and a yield of 0.63%. Goldcorp’s dividend payout ratio (DPR) is 14.55%.

A number of hedge funds have recently made changes to their positions in the business. Van ECK Associates Corp lifted its position in Goldcorp by 5.6% during the first quarter. Van ECK Associates Corp now owns 58,304,591 shares of the basic materials company’s stock valued at $850,663,000 after buying an additional 3,112,702 shares in the last quarter. First Eagle Investment Management LLC lifted its position in Goldcorp by 4.9% during the second quarter. First Eagle Investment Management LLC now owns 34,814,349 shares of the basic materials company’s stock valued at $449,453,000 after buying an additional 1,628,150 shares in the last quarter. Carmignac Gestion lifted its position in Goldcorp by 4.1% during the second quarter. Carmignac Gestion now owns 27,336,612 shares of the basic materials company’s stock valued at $352,916,000 after buying an additional 1,082,557 shares in the last quarter. Vanguard Group Inc. lifted its position in Goldcorp by 4.1% during the second quarter. Vanguard Group Inc. now owns 20,163,542 shares of the basic materials company’s stock valued at $260,311,000 after buying an additional 801,859 shares in the last quarter. Finally, FMR LLC lifted its position in Goldcorp by 163.8% during the first quarter. FMR LLC now owns 17,612,338 shares of the basic materials company’s stock valued at $256,931,000 after buying an additional 10,937,064 shares in the last quarter. 53.97% of the stock is currently owned by hedge funds and other institutional investors.

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.

Analyst Recommendations for Goldcorp (NYSE:GG)

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