Traders purchased shares of Goldcorp Inc. (NYSE:GG) (TSE:G) on weakness during trading hours on Monday. $47.61 million flowed into the stock on the tick-up and $15.04 million flowed out of the stock on the tick-down, for a money net flow of $32.57 million into the stock. Of all companies tracked, Goldcorp had the 18th highest net in-flow for the day. Goldcorp traded down ($0.29) for the day and closed at $13.50
Several brokerages have weighed in on GG. Zacks Investment Research raised Goldcorp from a “hold” rating to a “buy” rating and set a $15.00 target price on the stock in a research report on Monday, January 8th. Scotiabank set a $18.00 target price on Goldcorp and gave the stock a “buy” rating in a research report on Tuesday, January 16th. Canaccord Genuity lowered Goldcorp from a “buy” rating to a “hold” rating in a research report on Wednesday, January 17th. Jefferies Group set a $16.00 target price on Goldcorp and gave the stock a “hold” rating in a research report on Tuesday, January 16th. Finally, Raymond James Financial upped their target price on Goldcorp from $17.00 to $18.00 and gave the stock a “market perform” rating in a research report on Wednesday, January 17th. Eight investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $17.51.
The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.56 and a current ratio of 0.91. The firm has a market capitalization of $11,370.00, a price-to-earnings ratio of 17.26, a P/E/G ratio of 2.90 and a beta of 0.05.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp increased its holdings in shares of Goldcorp by 59.4% during the 4th quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 2,638,100 shares of the basic materials company’s stock valued at $42,289,000 after acquiring an additional 983,500 shares during the last quarter. Belpointe Asset Management LLC acquired a new position in shares of Goldcorp during the 4th quarter valued at about $141,000. M Holdings Securities Inc. acquired a new position in shares of Goldcorp during the 4th quarter valued at about $2,004,000. Verition Fund Management LLC increased its holdings in shares of Goldcorp by 133.8% during the 4th quarter. Verition Fund Management LLC now owns 40,440 shares of the basic materials company’s stock valued at $516,000 after acquiring an additional 23,144 shares during the last quarter. Finally, Sciencast Management LP bought a new stake in Goldcorp during the 4th quarter valued at approximately $207,000. 51.87% of the stock is currently owned by institutional investors and hedge funds.
TRADEMARK VIOLATION NOTICE: This article was first reported by Stock Observer and is the property of of Stock Observer. If you are reading this article on another domain, it was copied illegally and reposted in violation of U.S. & international trademark and copyright laws. The correct version of this article can be read at https://www.thestockobserver.com/2018/02/21/investors-buy-shares-of-goldcorp-gg-on-weakness.html.
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.
Receive News & Ratings for Goldcorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Goldcorp and related companies with MarketBeat.com's FREE daily email newsletter.