Oxbow Advisors LLC lowered its position in Goldcorp Inc. (NYSE:GG) (TSE:G) by 7.7% during the second quarter, Holdings Channel reports. The fund owned 93,815 shares of the basic materials company’s stock after selling 7,778 shares during the period. Oxbow Advisors LLC’s holdings in Goldcorp were worth $1,211,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Cedar Wealth Management LLC boosted its stake in shares of Goldcorp by 9.2% in the second quarter. Cedar Wealth Management LLC now owns 29,150 shares of the basic materials company’s stock worth $376,000 after buying an additional 2,450 shares during the last quarter. DORCHESTER WEALTH MANAGEMENT Co boosted its stake in shares of Goldcorp by 1.0% in the second quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 322,632 shares of the basic materials company’s stock worth $4,157,000 after buying an additional 3,245 shares during the last quarter. Bennicas & Associates Inc. boosted its stake in shares of Goldcorp by 0.7% in the second quarter. Bennicas & Associates Inc. now owns 116,360 shares of the basic materials company’s stock worth $1,502,000 after buying an additional 800 shares during the last quarter. Aperio Group LLC boosted its stake in shares of Goldcorp by 5.7% in the second quarter. Aperio Group LLC now owns 233,788 shares of the basic materials company’s stock worth $3,018,000 after buying an additional 12,702 shares during the last quarter. Finally, Jarislowsky Fraser Ltd boosted its stake in shares of Goldcorp by 3.7% in the second quarter. Jarislowsky Fraser Ltd now owns 17,010 shares of the basic materials company’s stock worth $218,000 after buying an additional 600 shares during the last quarter. Institutional investors and hedge funds own 56.62% of the company’s stock.
Shares of Goldcorp Inc. (NYSE GG) traded up 0.931% during midday trading on Wednesday, hitting $13.545. The stock had a trading volume of 1,188,846 shares. The stock has a market cap of $11.59 billion, a PE ratio of 46.387 and a beta of 0.02. The stock has a 50-day moving average of $13.27 and a 200 day moving average of $14.64. Goldcorp Inc. has a 52 week low of $11.91 and a 52 week high of $19.35.
Goldcorp (NYSE:GG) (TSE:G) last announced its quarterly earnings results on Wednesday, April 26th. The basic materials company reported $0.20 EPS for the quarter, beating the Zacks’ consensus estimate of $0.09 by $0.11. Goldcorp had a net margin of 7.31% and a return on equity of 2.72%. The business had revenue of $882 million for the quarter, compared to analyst estimates of $929.91 million. During the same quarter in the prior year, the business earned $0.10 EPS. Analysts anticipate that Goldcorp Inc. will post $0.37 EPS for the current fiscal year.
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A number of brokerages have recently weighed in on GG. National Bank Financial cut Goldcorp from an “outperform” rating to a “sector perform” rating in a research report on Monday. Morgan Stanley reissued an “overweight” rating on shares of Goldcorp in a report on Friday, July 21st. Royal Bank Of Canada set a $16.00 price objective on Goldcorp and gave the stock a “hold” rating in a report on Tuesday, July 18th. BidaskClub raised Goldcorp from a “sell” rating to a “hold” rating in a report on Tuesday, July 18th. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $13.00 price objective (down from $15.00) on shares of Goldcorp in a report on Friday, July 14th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $17.27.
Goldcorp Company Profile
Goldcorp Inc is a gold producer engaged in the operation, exploration, development and acquisition of precious metal properties in Canada, the United States, Mexico, and Central and South America. The Company is engaged in the sale of gold, silver, lead, zinc and copper. The Company’s segments include Red Lake Gold Mines Ontario Partnership (Red Lake), Goldcorp Canada Ltd./Goldcorp Inc (Porcupine), Musselwhite, Les Mines Opinaca Ltee (Eleonore), Minera Penasquito SA de C.V.
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