Todays Report: The Goldcorp Inc. (GG) Expected to Earn Q4 2016 Earnings of $0.13 Per Share

The Goldcorp Inc. (GG) Expected to Earn Q4 2016 Earnings of $0.13 Per Share

Goldcorp Inc. (NYSE:GG) – Analysts at Cormark upped their Q4 2016 EPS estimates for Goldcorp in a report issued on Friday. Cormark analyst R. Gray now forecasts that the firm will post earnings per share of $0.13 for the quarter, up from their prior estimate of $0.12.

Goldcorp (NYSE:GG) last announced its quarterly earnings results on Wednesday, October 26th. The company reported $0.11 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.11. Goldcorp had a negative net margin of 114.28% and a positive return on equity of 0.24%. The company earned $1.15 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the previous year, the company posted ($0.04) earnings per share. The company’s revenue for the quarter was down 11.4% compared to the same quarter last year.

A number of other brokerages have also commented on GG. Deutsche Bank AG reiterated a “sell” rating on shares of Goldcorp in a report on Thursday, July 7th. HSBC reiterated a “buy” rating on shares of Goldcorp in a report on Thursday, July 7th. Zacks Investment Research upgraded Goldcorp from a “hold” rating to a “buy” rating and set a $22.00 price target for the company in a report on Tuesday, July 12th. Vetr lowered Goldcorp from a “strong-buy” rating to a “sell” rating and set a $19.34 price target for the company. in a report on Tuesday, July 5th. Finally, Jefferies Group upped their price target on Goldcorp from $17.00 to $20.00 and gave the stock a “hold” rating in a report on Thursday, July 14th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $19.59.

Goldcorp (NYSE:GG) opened at 14.82 on Monday. The stock’s 50 day moving average is $15.43 and its 200 day moving average is $17.32. Goldcorp has a one year low of $9.46 and a one year high of $20.38. The firm’s market cap is $12.49 billion.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GG. Brighton Jones LLC raised its position in Goldcorp by 0.6% in the third quarter. Brighton Jones LLC now owns 18,468 shares of the company’s stock valued at $305,000 after buying an additional 114 shares in the last quarter. Jarislowsky Fraser Ltd raised its position in Goldcorp by 1.4% in the second quarter. Jarislowsky Fraser Ltd now owns 17,920 shares of the company’s stock valued at $341,000 after buying an additional 245 shares in the last quarter. Lowe fs LLC raised its position in Goldcorp by 0.5% in the second quarter. Lowe fs LLC now owns 66,826 shares of the company’s stock valued at $1,278,000 after buying an additional 306 shares in the last quarter. Creative Planning raised its position in Goldcorp by 1.2% in the second quarter. Creative Planning now owns 29,711 shares of the company’s stock valued at $568,000 after buying an additional 339 shares in the last quarter. Finally, Regal Investment Advisors LLC raised its position in Goldcorp by 2.2% in the third quarter. Regal Investment Advisors LLC now owns 20,970 shares of the company’s stock valued at $346,000 after buying an additional 452 shares in the last quarter. Hedge funds and other institutional investors own 59.55% of the company’s stock.

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