Analysts Expect Goldcorp Inc. (GG) to Post $0.06 Earnings Per Share

Equities analysts expect Goldcorp Inc. (NYSE:GG) (TSE:G) to report earnings per share (EPS) of $0.06 for the current quarter, according to Zacks. Two analysts have provided estimates for Goldcorp’s earnings, with estimates ranging from $0.02 to $0.08. Goldcorp posted earnings of $0.08 per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 25%. The business is expected to report its next earnings report on Wednesday, April 24th.

According to Zacks, analysts expect that Goldcorp will report full-year earnings of $0.33 per share for the current financial year, with EPS estimates ranging from $0.20 to $0.53. For the next fiscal year, analysts expect that the business will report earnings of $0.47 per share, with EPS estimates ranging from $0.22 to $0.74. Zacks’ EPS calculations are an average based on a survey of research firms that follow Goldcorp.

Goldcorp (NYSE:GG) (TSE:G) last posted its quarterly earnings results on Wednesday, February 13th. The basic materials company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.05. Goldcorp had a positive return on equity of 0.86% and a negative net margin of 136.84%. The business had revenue of $772.00 million for the quarter, compared to analysts’ expectations of $853.36 million.

A number of research firms recently weighed in on GG. Deutsche Bank dropped their price target on Goldcorp from $13.00 to $12.00 and set a “hold” rating on the stock in a research note on Wednesday, April 10th. Vertical Research cut Goldcorp from a “buy” rating to a “hold” rating in a research note on Wednesday, January 9th. Cormark restated a “hold” rating on shares of Goldcorp in a research note on Tuesday, January 29th. UBS Group cut Goldcorp from a “buy” rating to a “neutral” rating and set a $11.00 price target on the stock. in a research note on Tuesday, February 12th. Finally, Royal Bank of Canada cut Goldcorp from an “outperform” rating to a “sector perform” rating and dropped their price target for the company from $15.00 to $13.00 in a research note on Tuesday, February 26th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the company’s stock. Goldcorp currently has an average rating of “Hold” and an average target price of $13.13.

GG traded down $0.23 during trading hours on Wednesday, reaching $11.19. The company’s stock had a trading volume of 34,060,568 shares, compared to its average volume of 20,772,451. Goldcorp has a 52 week low of $8.42 and a 52 week 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 stock has a market cap of $9.92 billion, a PE ratio of 159.86 and a beta of 0.25.

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Thursday, March 14th were issued a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date was Wednesday, March 13th. Goldcorp’s dividend payout ratio is 114.29%.

Hedge funds and other institutional investors have recently modified their holdings of the business. Estabrook Capital Management grew its holdings in shares of Goldcorp by 37.7% during the 4th quarter. Estabrook Capital Management now owns 4,475 shares of the basic materials company’s stock worth $44,000 after purchasing an additional 1,225 shares in the last quarter. We Are One Seven LLC acquired a new stake in shares of Goldcorp during the 4th quarter worth $92,000. Gideon Capital Advisors Inc. acquired a new stake in shares of Goldcorp during the 4th quarter worth $106,000. Brown Advisory Inc. acquired a new stake in shares of Goldcorp during the 3rd quarter worth $111,000. Finally, Falcon Point Capital LLC acquired a new stake in shares of Goldcorp during the 4th quarter worth $116,000. 55.52% of the stock is currently 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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