Korea Investment CORP grew its holdings in shares of Goldcorp Inc. (NYSE:GG) (TSE:G) by 40.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 160,650 shares of the basic materials company’s stock after buying an additional 46,500 shares during the quarter. Korea Investment CORP’s holdings in Goldcorp were worth $2,204,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in GG. Van ECK Associates Corp grew its stake in Goldcorp by 32.7% in the 1st quarter. Van ECK Associates Corp now owns 43,761,486 shares of the basic materials company’s stock worth $604,782,000 after acquiring an additional 10,772,041 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of Goldcorp by 232.9% during the first quarter. Franklin Resources Inc. now owns 8,015,471 shares of the basic materials company’s stock valued at $110,643,000 after purchasing an additional 5,608,028 shares in the last quarter. Minneapolis Portfolio Management Group LLC bought a new position in shares of Goldcorp during the first quarter valued at approximately $26,349,000. Assenagon Asset Management S.A. bought a new position in shares of Goldcorp during the second quarter valued at approximately $19,927,000. Finally, Virginia Retirement Systems ET AL boosted its stake in shares of Goldcorp by 527.2% during the second quarter. Virginia Retirement Systems ET AL now owns 1,327,190 shares of the basic materials company’s stock valued at $18,211,000 after purchasing an additional 1,115,590 shares in the last quarter. Hedge funds and other institutional investors own 53.88% of the company’s stock.
A number of research firms have recently issued reports on GG. Zacks Investment Research downgraded shares of Goldcorp from a “hold” rating to a “sell” rating in a research note on Tuesday, July 3rd. ValuEngine cut shares of Goldcorp from a “hold” rating to a “sell” rating in a research report on Monday, July 16th. Scotiabank reissued a “buy” rating and set a $17.00 target price on shares of Goldcorp in a research report on Friday, July 27th. Jefferies Financial Group reissued a “hold” rating and set a $13.00 target price on shares of Goldcorp in a research report on Monday, August 6th. Finally, TheStreet cut shares of Goldcorp from a “b-” rating to a “c+” rating in a research report on Wednesday, August 1st. Two analysts have rated the stock with a sell rating, six have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Goldcorp presently has an average rating of “Hold” and a consensus target price of $16.19.
Goldcorp (NYSE:GG) (TSE:G) last issued its earnings results on Wednesday, July 25th. The basic materials company reported $0.05 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by ($0.02). The business had revenue of $793.00 million for the quarter, compared to analysts’ expectations of $871.54 million. Goldcorp had a return on equity of 1.97% and a net margin of 8.61%. During the same period last year, the business earned $0.16 EPS. As a group, equities analysts anticipate that Goldcorp Inc. will post 0.26 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 21st. Investors of record on Thursday, September 13th were given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.79%. The ex-dividend date of this dividend was Wednesday, September 12th. This is a positive change from Goldcorp’s previous quarterly dividend of $0.02. Goldcorp’s dividend payout ratio (DPR) is currently 20.00%.
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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