Addenda Capital Inc. purchased a new position in shares of Goldcorp Inc. (NYSE:GG) (TSE:G) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 26,090 shares of the basic materials company’s stock, valued at approximately $266,000.
A number of other hedge funds have also modified their holdings of GG. First Manhattan Co. purchased a new stake in shares of Goldcorp in the third quarter valued at $133,000. Boston Partners purchased a new stake in shares of Goldcorp during the second quarter worth $174,000. Centaurus Financial Inc. purchased a new stake in shares of Goldcorp during the second quarter worth $190,000. Edgestream Partners L.P. acquired a new position in Goldcorp during the second quarter worth $231,000. Finally, Titus Wealth Management acquired a new position in Goldcorp during the second quarter worth $320,000. 53.93% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE:GG traded up $0.05 during trading on Thursday, reaching $9.38. The stock had a trading volume of 7,219,382 shares, compared to its average volume of 7,406,490. The company has a current ratio of 0.83, a quick ratio of 0.48 and a debt-to-equity ratio of 0.18. Goldcorp Inc. has a 52 week low of $8.42 and a 52 week high of $15.55. The stock has a market capitalization of $8.16 billion, a P/E ratio of 23.45, a price-to-earnings-growth ratio of 12.72 and a beta of 0.09.
Several equities analysts have commented on GG shares. ValuEngine downgraded Goldcorp from a “sell” rating to a “strong sell” rating in a research report on Tuesday, September 4th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $13.00 price target on shares of Goldcorp in a research report on Monday, August 6th. Credit Suisse Group reissued an “outperform” rating on shares of Goldcorp in a research report on Monday, September 10th. Citigroup downgraded Goldcorp from a “buy” rating to a “neutral” rating and set a $12.00 target price on the stock. in a research report on Tuesday, September 25th. Finally, Zacks Investment Research downgraded Goldcorp from a “hold” rating to a “sell” rating in a research report on Tuesday, September 25th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $15.58.
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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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