Goldcorp (GG) Downgraded by UBS Group to Neutral

Goldcorp (NYSE:GG) (TSE:G) was downgraded by stock analysts at UBS Group from a “buy” rating to a “neutral” rating in a note issued to investors on Tuesday, 247wallst.com reports. They currently have a $11.00 price target on the basic materials company’s stock. UBS Group’s target price would suggest a potential upside of 0.27% from the stock’s current price.

GG has been the subject of a number of other research reports. Vertical Research downgraded Goldcorp from a “buy” rating to a “hold” rating in a research report on Wednesday, January 9th. BMO Capital Markets upgraded Goldcorp from a “market perform” rating to an “outperform” rating and set a $14.79 price objective for the company in a report on Thursday, October 25th. They noted that the move was a valuation call. Macquarie downgraded Goldcorp from an “outperform” rating to a “neutral” rating in a report on Monday, January 7th. Royal Bank of Canada dropped their price objective on Goldcorp from $16.00 to $15.00 and set an “outperform” rating for the company in a report on Monday, October 29th. Finally, Cormark reiterated a “hold” rating on shares of Goldcorp in a report on Tuesday, January 29th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $13.53.

Shares of GG stock traded down $0.01 on Tuesday, reaching $10.97. 68,768 shares of the stock were exchanged, compared to its average volume of 11,869,653. The company has a market cap of $9.52 billion, a P/E ratio of 27.48 and a beta of 0.30. Goldcorp has a one year low of $8.42 and a one year high of $14.66. The company has a quick ratio of 0.48, a current ratio of 0.83 and a debt-to-equity ratio of 0.18.

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc grew its stake in Goldcorp by 2.9% in the third quarter. Vanguard Group Inc now owns 23,690,937 shares of the basic materials company’s stock valued at $241,647,000 after acquiring an additional 669,533 shares during the period. Vanguard Group Inc. grew its stake in Goldcorp by 2.9% in the third quarter. Vanguard Group Inc. now owns 23,690,937 shares of the basic materials company’s stock valued at $241,647,000 after acquiring an additional 669,533 shares during the period. CIBC Asset Management Inc grew its stake in Goldcorp by 0.3% in the third quarter. CIBC Asset Management Inc now owns 17,043,530 shares of the basic materials company’s stock valued at $173,513,000 after acquiring an additional 44,653 shares during the period. Ruffer LLP grew its stake in Goldcorp by 12.9% in the fourth quarter. Ruffer LLP now owns 16,769,473 shares of the basic materials company’s stock valued at $164,243,000 after acquiring an additional 1,911,769 shares during the period. Finally, Franklin Resources Inc. grew its stake in Goldcorp by 34.1% in the third quarter. Franklin Resources Inc. now owns 16,506,800 shares of the basic materials company’s stock valued at $168,091,000 after acquiring an additional 4,198,072 shares during the period. 54.38% of the stock is owned by hedge funds and other institutional investors.

About Goldcorp

Goldcorp Inc acquires, explores for, develops, and operates precious metal properties in Canada, the United States, Mexico, and Central and South America. It primarily explores for gold, silver, lead, zinc, and copper deposits. The company's principal producing mining properties include the Éléonore, Musselwhite, Porcupine, and Red Lake mines in Canada; the Peñasquito mine in Mexico; the Cerro Negro mine in Argentina; and the Pueblo Viejo mine in the Dominican Republic.

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