Majedie Asset Management Ltd Lowers Holdings in Goldcorp Inc. (GG)

Majedie Asset Management Ltd lowered its stake in shares of Goldcorp Inc. (NYSE:GG) (TSE:G) by 50.8% during the first quarter, Holdings Channel reports. The institutional investor owned 5,503,401 shares of the basic materials company’s stock after selling 5,685,714 shares during the quarter. Goldcorp accounts for 4.4% of Majedie Asset Management Ltd’s investment portfolio, making the stock its 5th largest position. Majedie Asset Management Ltd’s holdings in Goldcorp were worth $63,011,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Estabrook Capital Management lifted its stake in shares of Goldcorp by 37.7% in the 4th quarter. Estabrook Capital Management now owns 4,475 shares of the basic materials company’s stock valued at $44,000 after purchasing an additional 1,225 shares during the last quarter. We Are One Seven LLC acquired a new position in shares of Goldcorp in the 4th quarter valued at $92,000. Gideon Capital Advisors Inc. acquired a new position in shares of Goldcorp in the 4th quarter valued at $106,000. Falcon Point Capital LLC acquired a new position in shares of Goldcorp in the 4th quarter valued at $116,000. Finally, Brown Advisory Inc. lifted its stake in shares of Goldcorp by 19.4% in the 4th quarter. Brown Advisory Inc. now owns 12,900 shares of the basic materials company’s stock valued at $126,000 after purchasing an additional 2,100 shares during the last quarter. 55.52% of the stock is currently owned by institutional investors.

NYSE GG remained flat at $$11.19 during trading hours on Wednesday. The company’s stock had a trading volume of 34,505,162 shares, compared to its average volume of 20,772,451. The company has a current ratio of 0.87, a quick ratio of 0.47 and a debt-to-equity ratio of 0.27. Goldcorp Inc. has a 12 month low of $8.42 and a 12 month high of $14.66. The stock has a market cap of $9.72 billion, a P/E ratio of 159.86 and a beta of 0.25.

Goldcorp (NYSE:GG) (TSE:G) last issued its quarterly earnings results on Wednesday, February 13th. The basic materials company reported $0.07 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate 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 company had revenue of $772.00 million for the quarter, compared to the consensus estimate of $853.36 million. Analysts anticipate that Goldcorp Inc. will post 0.32 EPS for the current year.

Several equities analysts recently issued reports on the company. Raymond James reissued a “market perform” rating and set a $14.00 target price on shares of Goldcorp in a research note on Tuesday, January 15th. Royal Bank of Canada lowered Goldcorp from an “outperform” rating to a “sector perform” rating and decreased their target price for the stock from $15.00 to $13.00 in a research note on Tuesday, February 26th. UBS Group lowered Goldcorp from a “buy” rating to a “neutral” rating and set a $11.00 target price on the stock. in a research note on Tuesday, February 12th. Cormark reissued a “hold” rating on shares of Goldcorp in a research note on Tuesday, January 29th. Finally, Deutsche Bank decreased their target price on Goldcorp from $13.00 to $12.00 and set a “hold” rating on the stock in a research note on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $12.93.

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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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Institutional Ownership by Quarter for Goldcorp (NYSE:GG)

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