$815.64 Million in Sales Expected for Goldcorp Inc. (GG) This Quarter

Brokerages expect that Goldcorp Inc. (NYSE:GG) (TSE:G) will report sales of $815.64 million for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Goldcorp’s earnings, with the highest sales estimate coming in at $817.41 million and the lowest estimate coming in at $813.87 million. Goldcorp reported sales of $846.00 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 3.6%. The business is scheduled to issue its next quarterly earnings report on Wednesday, April 24th.

On average, analysts expect that Goldcorp will report full year sales of $3.64 billion for the current fiscal year, with estimates ranging from $3.27 billion to $4.05 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $4.14 billion, with estimates ranging from $3.77 billion to $4.63 billion. Zacks’ sales averages are a mean average based on a survey of analysts that cover Goldcorp.

Goldcorp (NYSE:GG) (TSE:G) last posted its quarterly earnings data on Wednesday, February 13th. The basic materials company reported $0.07 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.05. Goldcorp had a negative net margin of 136.84% and a positive return on equity of 0.86%. The business had revenue of $772.00 million during the quarter, compared to the consensus estimate of $853.36 million.

Several equities research analysts have recently commented on GG shares. UBS Group started coverage on shares of Goldcorp in a research note on Friday, January 4th. They set a “buy” rating and a $12.00 price objective for the company. Macquarie downgraded shares of Goldcorp from an “outperform” rating to a “neutral” rating in a research note on Monday, January 7th. Vertical Research downgraded shares of Goldcorp from a “buy” rating to a “hold” rating in a research note on Wednesday, January 9th. Raymond James reiterated a “market perform” rating and set a $14.00 price objective on shares of Goldcorp in a research note on Tuesday, January 15th. Finally, Cormark reiterated a “hold” rating on shares of Goldcorp in a research note on Tuesday, January 29th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $13.13.

Shares of NYSE:GG traded down $0.23 on Friday, hitting $11.19. 34,060,568 shares of the company were exchanged, compared to its average volume of 20,772,451. Goldcorp has a 1-year low of $8.42 and a 1-year high of $14.66. The company has a current ratio of 0.87, a quick ratio of 0.47 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $9.92 billion, a P/E ratio of 159.86 and a beta of 0.25.

The firm also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Thursday, March 14th were issued a dividend of $0.02 per share. The ex-dividend date was Wednesday, March 13th. This represents a $0.08 annualized dividend and a dividend yield of 0.71%. Goldcorp’s dividend payout ratio (DPR) is presently 114.29%.

Several institutional investors have recently modified their holdings of the stock. Wedbush Securities Inc. boosted its holdings in Goldcorp by 6.9% in the 1st quarter. Wedbush Securities Inc. now owns 26,247 shares of the basic materials company’s stock valued at $300,000 after purchasing an additional 1,687 shares during the last quarter. FNY Investment Advisers LLC acquired a new position in Goldcorp in the 1st quarter valued at about $1,939,000. Havens Advisors LLC acquired a new position in Goldcorp in the 1st quarter valued at about $1,544,000. Hexavest Inc. boosted its holdings in Goldcorp by 31.1% in the 1st quarter. Hexavest Inc. now owns 1,474,225 shares of the basic materials company’s stock valued at $16,866,000 after purchasing an additional 349,321 shares during the last quarter. Finally, Norges Bank acquired a new position in Goldcorp in the 4th quarter valued at about $60,785,000. 55.52% of the stock is owned by hedge funds and other institutional investors.

About Goldcorp

Goldcorp Inc acquires, explores for, develops, and operates precious metal properties in Canada, the United States, Mexico, and Central and South America. The company primarily explores for gold, zinc, silver, lead, and copper deposits. Its 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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Earnings History and Estimates for Goldcorp (NYSE:GG)

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