Goldcorp Inc. (GG) Holdings Reduced by CIBC Asset Management Inc

CIBC Asset Management Inc decreased its holdings in shares of Goldcorp Inc. (NYSE:GG) (TSE:G) by 86.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,040,633 shares of the basic materials company’s stock after selling 13,071,879 shares during the period. CIBC Asset Management Inc owned 0.23% of Goldcorp worth $23,348,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Toronto Dominion Bank increased its position in Goldcorp by 14.5% during the 1st quarter. Toronto Dominion Bank now owns 4,855,174 shares of the basic materials company’s stock valued at $55,542,000 after buying an additional 615,741 shares in the last quarter. Stack Financial Management Inc increased its position in Goldcorp by 2.6% during the 1st quarter. Stack Financial Management Inc now owns 662,262 shares of the basic materials company’s stock valued at $7,576,000 after buying an additional 16,525 shares in the last quarter. Perella Weinberg Partners Capital Management LP bought a new position in Goldcorp during the 1st quarter valued at approximately $11,666,000. Cetera Advisor Networks LLC increased its position in Goldcorp by 26.6% during the 1st quarter. Cetera Advisor Networks LLC now owns 21,493 shares of the basic materials company’s stock valued at $249,000 after buying an additional 4,514 shares in the last quarter. Finally, Brave Asset Management Inc. increased its position in Goldcorp by 5.9% during the 1st quarter. Brave Asset Management Inc. now owns 40,960 shares of the basic materials company’s stock valued at $469,000 after buying an additional 2,280 shares in the last quarter. 55.52% of the stock is owned by hedge funds and other institutional investors.

NYSE GG opened at $11.19 on Tuesday. The firm has a market cap of $9.72 billion, a P/E ratio of 159.86 and a beta of 0.25. The company has a current ratio of 0.87, a quick ratio of 0.47 and a debt-to-equity ratio of 0.27. Goldcorp Inc. has a fifty-two week low of $8.42 and a fifty-two week high of $14.66.

Goldcorp (NYSE:GG) (TSE:G) last released its earnings results on Wednesday, February 13th. The basic materials company reported $0.07 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.05. The company had revenue of $772.00 million for the quarter, compared to the consensus estimate of $853.36 million. Goldcorp had a positive return on equity of 0.86% and a negative net margin of 136.84%. On average, equities research analysts anticipate that Goldcorp Inc. will post 0.32 EPS for the current year.

Several brokerages have commented on GG. Raymond James reiterated a “market perform” rating and set a $14.00 target price on shares of Goldcorp in a research note on Tuesday, January 15th. Cormark reiterated a “hold” rating on shares of Goldcorp in a research note on Tuesday, January 29th. UBS Group downgraded Goldcorp from a “buy” rating to a “neutral” rating and set a $11.00 target price on the stock. in a research note on Tuesday, February 12th. Royal Bank of Canada downgraded Goldcorp from an “outperform” rating to a “sector perform” rating and cut their target price for the company from $15.00 to $13.00 in a research note on Tuesday, February 26th. Finally, Deutsche Bank cut their target price on Goldcorp from $13.00 to $12.00 and set a “hold” rating on the stock in a research note on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $12.93.

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Goldcorp Profile

Goldcorp Inc acquires, explores for, develops, and operates precious metal properties in Canada, the United States, Mexico, and Central and South America. The company primarily explores for gold, zinc, silver, lead, and copper deposits. Its 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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Institutional Ownership by Quarter for Goldcorp (NYSE:GG)

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