Goldcorp Inc. (GG) Price Target Raised to $18.00 at J P Morgan Chase & Co

Goldcorp Inc. (NYSE:GG) (TSE:G) had its price target lifted by research analysts at J P Morgan Chase & Co from $16.00 to $18.00 in a research report issued on Wednesday. The brokerage presently has an “overweight” rating on the basic materials company’s stock. J P Morgan Chase & Co’s price objective would indicate a potential upside of 35.95% from the company’s current price.

A number of other equities analysts have also recently weighed in on the stock. Royal Bank Of Canada raised shares of Goldcorp from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from $15.00 to $18.00 in a research report on Wednesday, November 1st. Scotiabank cut their target price on shares of Goldcorp from $18.00 to $17.00 and set an “outperform” rating on the stock in a research note on Monday, October 30th. National Bank Financial upgraded shares of Goldcorp from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 26th. Jefferies Group LLC set a $13.00 target price on shares of Goldcorp and gave the company a “hold” rating in a research note on Thursday, October 19th. Finally, Zacks Investment Research lowered shares of Goldcorp from a “hold” rating to a “sell” rating in a research note on Monday, October 9th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Goldcorp currently has an average rating of “Buy” and an average price target of $16.92.

Goldcorp (NYSE:GG) traded down $0.02 during trading hours on Wednesday, reaching $13.24. 5,761,000 shares of the company’s stock were exchanged, compared to its average volume of 7,479,704. The company has a current ratio of 1.00, a quick ratio of 0.69 and a debt-to-equity ratio of 0.17. The stock has a market cap of $11,496.42, a PE ratio of 25.02, a P/E/G ratio of 3.33 and a beta of -0.07. Goldcorp has a one year low of $11.91 and a one year high of $17.87.

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Institutional investors have recently bought and sold shares of the company. Aviva PLC boosted its holdings in shares of Goldcorp by 0.7% in the second quarter. Aviva PLC now owns 534,488 shares of the basic materials company’s stock valued at $6,887,000 after acquiring an additional 3,750 shares in the last quarter. Commerzbank Aktiengesellschaft FI boosted its holdings in shares of Goldcorp by 133.8% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 1,896,225 shares of the basic materials company’s stock valued at $24,480,000 after acquiring an additional 1,085,011 shares in the last quarter. Airain ltd bought a new position in shares of Goldcorp in the second quarter valued at approximately $3,719,000. Vanguard Group Inc. boosted its holdings in Goldcorp by 4.1% during the second quarter. Vanguard Group Inc. now owns 20,163,542 shares of the basic materials company’s stock worth $260,311,000 after buying an additional 801,859 shares in the last quarter. Finally, Commonwealth Bank of Australia boosted its holdings in Goldcorp by 7.7% during the second quarter. Commonwealth Bank of Australia now owns 3,838,097 shares of the basic materials company’s stock worth $49,412,000 after buying an additional 275,451 shares in the last quarter. Institutional investors and hedge funds own 54.77% of the company’s stock.

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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