Brokerages Expect Goldcorp Inc. (NYSE:GG) Will Announce Earnings of $0.10 Per Share

Wall Street analysts expect that Goldcorp Inc. (NYSE:GG) (TSE:G) will announce $0.10 earnings per share for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Goldcorp’s earnings. The highest EPS estimate is $0.14 and the lowest is $0.07. Goldcorp reported earnings per share of ($0.01) during the same quarter last year, which would indicate a positive year over year growth rate of 1,100%. The company is scheduled to issue its next quarterly earnings report after the market closes on Wednesday, July 26th.

On average, analysts expect that Goldcorp will report full-year earnings of $0.36 per share for the current fiscal year, with EPS estimates ranging from $0.26 to $0.50. For the next fiscal year, analysts forecast that the firm will report earnings of $0.49 per share, with EPS estimates ranging from $0.34 to $0.67. Zacks Investment Research’s EPS averages are an average based on a survey of research analysts that cover Goldcorp.

Goldcorp (NYSE:GG) (TSE:G) last released its quarterly earnings results on Wednesday, April 26th. The basic materials company reported $0.20 earnings per share for the quarter, topping the 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 analysts’ expectations of $929.91 million. During the same period in the previous year, the company earned $0.10 earnings per share.

Several analysts recently commented on the stock. BidaskClub raised shares of Goldcorp from a “sell” rating to a “hold” rating in a research report on Tuesday. Macquarie raised shares of Goldcorp from a “neutral” rating to an “outperform” rating in a research report on Wednesday, July 12th. Jefferies Group LLC reissued a “hold” rating and set a $13.00 price objective (down from $15.00) on shares of Goldcorp in a research report on Friday, July 14th. Zacks Investment Research downgraded shares of Goldcorp from a “hold” rating to a “sell” rating in a research report on Friday, July 14th. Finally, Royal Bank Of Canada set a $16.00 price objective on shares of Goldcorp and gave the company a “hold” rating in a research report on Tuesday. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $17.27.

Goldcorp (NYSE:GG) traded up 0.73% on Friday, reaching $13.72. 6,804,415 shares of the company traded hands. The company has a market capitalization of $11.74 billion, a PE ratio of 46.99 and a beta of 0.02. The stock’s 50 day moving average price is $13.27 and its 200 day moving average price is $14.64. Goldcorp has a one year low of $11.91 and a one year high of $19.35. Goldcorp also saw some unusual options trading activity on Thursday. Investors bought 13,951 put options on the stock. This is an increase of 166% compared to the average volume of 5,252 put options.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 23rd. Investors of record on Thursday, June 15th were issued a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date was Tuesday, June 13th. Goldcorp’s payout ratio is 26.67%.

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Several institutional investors have recently bought and sold shares of GG. Van ECK Associates Corp boosted its stake in Goldcorp by 5.6% in the first quarter. Van ECK Associates Corp now owns 58,304,591 shares of the basic materials company’s stock worth $850,663,000 after buying an additional 3,112,702 shares during the last quarter. Vanguard Group Inc. boosted its stake in Goldcorp by 4.4% in the first quarter. Vanguard Group Inc. now owns 19,361,683 shares of the basic materials company’s stock worth $282,487,000 after buying an additional 814,810 shares during the last quarter. FMR LLC boosted its stake in Goldcorp by 163.8% in the first quarter. FMR LLC now owns 17,612,338 shares of the basic materials company’s stock worth $256,931,000 after buying an additional 10,937,064 shares during the last quarter. TD Asset Management Inc. boosted its stake in Goldcorp by 4.3% in the first quarter. TD Asset Management Inc. now owns 16,363,749 shares of the basic materials company’s stock worth $238,040,000 after buying an additional 681,367 shares during the last quarter. Finally, Artisan Partners Limited Partnership boosted its stake in Goldcorp by 1.6% in the first quarter. Artisan Partners Limited Partnership now owns 15,412,581 shares of the basic materials company’s stock worth $224,870,000 after buying an additional 246,922 shares during the last quarter. 56.71% of the stock is currently owned by institutional investors.

About Goldcorp

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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