Goldcorp (NYSE: GG)‘s stock had its “hold” rating reaffirmed by research analysts at TheStreet in a report released on Tuesday.
The analysts wrote, “Goldcorp (GG) has been reiterated by TheStreet Ratings as a hold with a ratings score of C+ . The company’s strengths can be seen in multiple areas, such as its increase in net income, largely solid financial position with reasonable debt levels by most measures and reasonable valuation levels. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself and disappointing return on equity.”
Shares of Goldcorp traded up 3.48% during mid-day trading on Tuesday, hitting $33.445. Goldcorp has a 52 week low of $31.54 and a 52 week high of $47.42. The stock’s 50-day moving average is currently $34.40. The company has a market cap of $27.157 billion and a P/E ratio of 16.56.
Goldcorp last announced its earnings results on Thursday, February 14th. The company reported $0.57 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.55 by $0.02. The company had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.56 billion. During the same quarter last year, the company posted $0.66 earnings per share. Goldcorp’s revenue was down 5.3% compared to the same quarter last year. On average, analysts predict that Goldcorp will post $2.09 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at TD Securities cut their price target on shares of Goldcorp from $50.00 to $47.00 in a research note to investors on Monday. They now have a “buy” rating on the stock. Separately, analysts at Scotiabank reiterated a “sector outperform” rating on shares of Goldcorp in a research note to investors on Wednesday, February 20th. They now have a $51.00 price target on the stock. Finally, analysts at RBC Capital reiterated an “outperform” rating on shares of Goldcorp in a research note to investors on Wednesday, February 20th. They now have a $49.00 price target on the stock.
Seventeen equities research analysts have rated the stock with a buy rating, two have issued an overweight rating, and seven have assigned a hold rating to the stock. Goldcorp currently has an average rating of “overweight” and a consensus price target of $49.20.
The company also recently announced a monthly dividend, which is scheduled for Friday, March 22nd. Investors of record on Thursday, March 14th will be paid a dividend of $0.05 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.85%. The ex-dividend date is Tuesday, March 12th.
Goldcorp Inc. (Goldcorp) 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.
To view TheStreet’s full report, visit www.thestreetratings.com
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