Goldcorp (NYSE:GG) Upgraded to “Action List Buy” by TD Securities

TD Securities upgraded shares of Goldcorp (NYSE:GG) (TSE:G) from a buy rating to an action list buy rating in a research report sent to investors on Wednesday, January 17th. TD Securities currently has $22.00 price objective on the basic materials company’s stock, up from their previous price objective of $20.00.

A number of other research analysts also recently weighed in on the company. Credit Suisse Group upgraded Goldcorp from a neutral rating to an outperform rating and raised their price target for the company from $15.50 to $19.00 in a research note on Monday, January 15th. Zacks Investment Research downgraded Goldcorp from a hold rating to a sell rating in a research note on Monday, October 9th. JPMorgan Chase & Co. raised their price target on Goldcorp from $16.00 to $18.00 and gave the company an overweight rating in a research note on Wednesday, November 15th. Royal Bank of Canada upgraded Goldcorp from a sector perform rating to an outperform rating and raised their price target for the company from $15.00 to $18.00 in a research note on Wednesday, November 1st. Finally, National Bank Financial upgraded Goldcorp from a sector perform rating to an outperform rating in a research note on Thursday, October 26th. Nine investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of Buy and a consensus price target of $17.48.

Shares of Goldcorp (NYSE:GG) traded down $0.28 during trading on Wednesday, reaching $12.34. The company had a trading volume of 15,439,790 shares, compared to its average volume of 8,870,000. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.69 and a current ratio of 1.00. The firm has a market cap of $10,720.00, a price-to-earnings ratio of 20.57, a PEG ratio of 2.60 and a beta of 0.05. Goldcorp has a 1-year low of $11.64 and a 1-year high of $17.87.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. CIBC Asset Management Inc raised its holdings in shares of Goldcorp by 40.6% during the 4th quarter. CIBC Asset Management Inc now owns 16,700,712 shares of the basic materials company’s stock worth $213,869,000 after buying an additional 4,824,114 shares in the last quarter. Investec Asset Management LTD acquired a new position in shares of Goldcorp during the 3rd quarter worth $49,710,000. Carmignac Gestion raised its holdings in shares of Goldcorp by 11.6% during the 3rd quarter. Carmignac Gestion now owns 30,505,522 shares of the basic materials company’s stock worth $395,352,000 after buying an additional 3,168,910 shares in the last quarter. Guardian Capital LP raised its holdings in shares of Goldcorp by 37.3% during the 3rd quarter. Guardian Capital LP now owns 8,664,209 shares of the basic materials company’s stock worth $112,193,000 after buying an additional 2,354,277 shares in the last quarter. Finally, Flossbach Von Storch AG raised its holdings in shares of Goldcorp by 28.0% during the 3rd quarter. Flossbach Von Storch AG now owns 9,157,520 shares of the basic materials company’s stock worth $118,681,000 after buying an additional 2,005,040 shares in the last quarter. 53.44% of the stock is owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for Goldcorp (NYSE:GG)

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