Goldcorp Inc. (NYSE:GG) Position Cut by Sumitomo Mitsui Trust Holdings Inc.

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Sumitomo Mitsui Trust Holdings Inc. lessened its holdings in Goldcorp Inc. (NYSE:GG) (TSE:G) by 1.5% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 3,751,776 shares of the basic materials company’s stock after selling 57,015 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned 0.43% of Goldcorp worth $42,915,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. JPMorgan Chase & Co. lifted its stake in Goldcorp by 225.4% in the first quarter. JPMorgan Chase & Co. now owns 11,461,051 shares of the basic materials company’s stock worth $131,114,000 after purchasing an additional 7,939,057 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in Goldcorp by 305.2% during the first quarter. Assenagon Asset Management S.A. now owns 8,807,687 shares of the basic materials company’s stock valued at $100,761,000 after buying an additional 6,633,805 shares during the period. Norges Bank purchased a new position in Goldcorp during the fourth quarter valued at approximately $60,785,000. RWC Asset Management LLP purchased a new position in Goldcorp during the fourth quarter valued at approximately $48,031,000. Finally, Gabelli Funds LLC increased its holdings in Goldcorp by 139.5% during the first quarter. Gabelli Funds LLC now owns 5,788,740 shares of the basic materials company’s stock valued at $66,223,000 after buying an additional 3,371,240 shares during the period. Institutional investors and hedge funds own 55.52% of the company’s stock.

NYSE:GG opened at $11.19 on Wednesday. The company has a current ratio of 0.87, a quick ratio of 0.47 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $9.72 billion, a price-to-earnings ratio of 159.86 and a beta of 0.25. Goldcorp Inc. has a 1-year low of $8.42 and a 1-year high of $14.66.

Several research firms have issued reports on GG. Deutsche Bank cut their price target on shares of Goldcorp from $13.00 to $12.00 and set a “hold” rating on the stock in a report on Wednesday, April 10th. Raymond James reiterated a “market perform” rating and set a $12.00 price objective on shares of Goldcorp in a research note on Wednesday, April 24th. Royal Bank of Canada downgraded shares of Goldcorp from an “outperform” rating to a “sector perform” rating and decreased their target price for the company from $15.00 to $13.00 in a research report on Tuesday, February 26th. Finally, UBS Group downgraded shares of Goldcorp from a “buy” rating to a “neutral” rating and set a $11.00 target price for the company. in a research report on Tuesday, February 12th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the stock. Goldcorp presently has an average rating of “Hold” and a consensus target price of $12.93.

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About Goldcorp

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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