Q3 2018 Earnings Estimate for Goldcorp Inc. Issued By Cormark (GG)

Goldcorp Inc. (NYSE:GG) (TSE:G) – Research analysts at Cormark lowered their Q3 2018 earnings per share estimates for shares of Goldcorp in a note issued to investors on Tuesday, October 16th, according to Zacks Investment Research. Cormark analyst R. Gray now expects that the basic materials company will earn ($0.01) per share for the quarter, down from their previous estimate of $0.04.

Goldcorp (NYSE:GG) (TSE:G) last announced its earnings results on Wednesday, October 24th. The basic materials company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.06). The firm had revenue of $621.00 million during the quarter, compared to the consensus estimate of $714.46 million. Goldcorp had a return on equity of 0.97% and a net margin of 2.47%.

Several other research firms also recently issued reports on GG. Citigroup dropped their price objective on shares of Goldcorp from $16.00 to $14.00 and set a “buy” rating on the stock in a report on Wednesday, August 29th. Raymond James dropped their price objective on shares of Goldcorp from $18.00 to $17.00 and set a “market perform” rating on the stock in a report on Thursday, September 20th. Royal Bank of Canada restated a “buy” rating and set a $16.00 price objective on shares of Goldcorp in a report on Wednesday, September 19th. JPMorgan Chase & Co. dropped their price objective on shares of Goldcorp from $18.00 to $16.00 and set an “overweight” rating on the stock in a report on Monday, September 17th. Finally, TheStreet downgraded shares of Goldcorp from a “b-” rating to a “c+” rating in a report on Wednesday, August 1st. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $15.58.

GG traded down $0.19 during trading on Thursday, hitting $9.19. The stock had a trading volume of 7,815,204 shares, compared to its average volume of 14,464,224. The company has a market capitalization of $8.11 billion, a PE ratio of 22.98, a price-to-earnings-growth ratio of 12.65 and a beta of 0.09. Goldcorp has a 12 month low of $8.42 and a 12 month high of $15.55. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.83 and a quick ratio of 0.48.

Several institutional investors have recently modified their holdings of GG. Ruffer LLP boosted its position in shares of Goldcorp by 73.2% during the 3rd quarter. Ruffer LLP now owns 14,857,704 shares of the basic materials company’s stock valued at $151,473,000 after acquiring an additional 6,277,498 shares in the last quarter. TD Asset Management Inc. boosted its position in shares of Goldcorp by 15.8% during the 3rd quarter. TD Asset Management Inc. now owns 14,928,339 shares of the basic materials company’s stock valued at $151,986,000 after acquiring an additional 2,036,742 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Goldcorp during the 2nd quarter valued at about $19,927,000. Majedie Asset Management Ltd boosted its position in shares of Goldcorp by 15.8% during the 3rd quarter. Majedie Asset Management Ltd now owns 10,034,717 shares of the basic materials company’s stock valued at $102,354,000 after acquiring an additional 1,371,946 shares in the last quarter. Finally, Virginia Retirement Systems ET AL boosted its position in shares of Goldcorp by 527.2% during the 2nd 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 acquiring an additional 1,115,590 shares in the last quarter. Institutional investors and hedge funds own 53.93% of the company’s stock.

About Goldcorp

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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