SG Americas Securities LLC boosted its stake in shares of Goldcorp Inc. (NYSE:GG) (TSE:G) by 431.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 301,888 shares of the basic materials company’s stock after buying an additional 245,083 shares during the period. SG Americas Securities LLC’s holdings in Goldcorp were worth $3,897,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently bought and sold shares of GG. Nomura Asset Management Co. Ltd. increased its stake in Goldcorp by 55.6% in the first quarter. Nomura Asset Management Co. Ltd. now owns 8,400 shares of the basic materials company’s stock valued at $123,000 after buying an additional 3,000 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in Goldcorp by 12.5% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 9,358 shares of the basic materials company’s stock valued at $137,000 after buying an additional 1,037 shares during the last quarter. First Financial Equity Corporation purchased a new stake in Goldcorp during the first quarter valued at $162,000. BB&T Securities LLC purchased a new stake in Goldcorp during the first quarter valued at $161,000. Finally, Bourgeon Capital Management LLC purchased a new stake in Goldcorp during the second quarter valued at $161,000. Institutional investors and hedge funds own 55.88% of the company’s stock.
Goldcorp Inc. (NYSE GG) opened at 12.87 on Friday. Goldcorp Inc. has a one year low of $11.91 and a one year high of $18.07. The firm’s 50 day moving average price is $13.01 and its 200-day moving average price is $14.33. The firm has a market cap of $11.13 billion, a PE ratio of 23.61 and a beta of 0.02.
Several brokerages have recently issued reports on GG. BidaskClub raised Goldcorp from a “sell” rating to a “hold” rating in a report on Friday, August 11th. TD Securities decreased their price objective on Goldcorp from $21.00 to $20.00 and set a “buy” rating for the company in a report on Friday, August 4th. Jefferies Group LLC set a $13.00 price objective on Goldcorp and gave the company a “hold” rating in a report on Tuesday, August 15th. Royal Bank Of Canada decreased their price objective on Goldcorp from $16.00 to $15.00 and set a “sector perform” rating for the company in a report on Tuesday, August 15th. Finally, National Bank Financial cut Goldcorp from an “outperform” rating to a “sector perform” rating in a report on Monday, July 24th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $16.64.
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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