Goldcorp Target of Unusually High Options Trading (GG)

Goldcorp (NYSE:GG) (TSE:G) saw unusually large options trading activity on Wednesday. Traders bought 22,598 put options on the stock. This is an increase of approximately 973% compared to the average volume of 2,106 put options.

Several research analysts recently commented on GG shares. ValuEngine downgraded shares of Goldcorp from a “hold” rating to a “sell” rating in a research note on Thursday, March 1st. Deutsche Bank raised their price target on shares of Goldcorp from $16.00 to $16.50 and gave the stock a “hold” rating in a research note on Wednesday, April 11th. Finally, Canaccord Genuity raised shares of Goldcorp from a “hold” rating to a “buy” rating in a research report on Monday, April 23rd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $17.67.

Several large investors have recently added to or reduced their stakes in the company. Van ECK Associates Corp boosted its holdings in shares of Goldcorp by 32.7% in the 1st quarter. Van ECK Associates Corp now owns 43,761,486 shares of the basic materials company’s stock valued at $604,782,000 after buying an additional 10,772,041 shares in the last quarter. First Eagle Investment Management LLC boosted its holdings in shares of Goldcorp by 0.8% in the 1st quarter. First Eagle Investment Management LLC now owns 37,461,068 shares of the basic materials company’s stock valued at $517,712,000 after buying an additional 281,089 shares in the last quarter. CIBC Asset Management Inc boosted its holdings in shares of Goldcorp by 40.6% in the 4th quarter. CIBC Asset Management Inc now owns 16,700,712 shares of the basic materials company’s stock valued at $213,869,000 after buying an additional 4,824,114 shares in the last quarter. Bank of Montreal Can boosted its holdings in shares of Goldcorp by 1.1% in the 4th quarter. Bank of Montreal Can now owns 13,497,180 shares of the basic materials company’s stock valued at $172,358,000 after buying an additional 142,752 shares in the last quarter. Finally, Swiss National Bank boosted its holdings in shares of Goldcorp by 5.2% in the 1st quarter. Swiss National Bank now owns 8,325,300 shares of the basic materials company’s stock valued at $114,812,000 after buying an additional 412,000 shares in the last quarter. Institutional investors and hedge funds own 51.75% of the company’s stock.

NYSE GG opened at $13.51 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.54 and a debt-to-equity ratio of 0.16. The stock has a market cap of $11.73 billion, a price-to-earnings ratio of 33.78, a price-to-earnings-growth ratio of 3.09 and a beta of 0.09. Goldcorp has a one year low of $13.43 and a one year high of $13.55.

Goldcorp (NYSE:GG) (TSE:G) last posted its earnings results on Wednesday, April 25th. The basic materials company reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.02). The business had revenue of $846.00 million for the quarter, compared to analysts’ expectations of $868.52 million. Goldcorp had a net margin of 16.39% and a return on equity of 2.32%. During the same period last year, the business posted $0.20 EPS. equities research analysts expect that Goldcorp will post 0.44 EPS for the current year.

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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