First Eagle Investment Management Lowers stake in Goldcorp (USA) (GG)

Goldcorp (USA) (GG) : First Eagle Investment Management reduced its stake in Goldcorp (USA) by 0.03% during the most recent quarter end. The investment management company now holds a total of 39,463,548 shares of Goldcorp (USA) which is valued at $748,228,870 after selling 10,763 shares in Goldcorp (USA) , the firm said in a disclosure report filed with the SEC on Aug 9, 2016.Goldcorp (USA) makes up approximately 1.81% of First Eagle Investment Management’s portfolio.

Other Hedge Funds, Including , Heathbridge Capital Management Ltd. reduced its stake in GG by selling 1,700 shares or 0.18% in the most recent quarter. The Hedge Fund company now holds 939,200 shares of GG which is valued at $17,807,232. Goldcorp (USA) makes up approx 4.47% of Heathbridge Capital Management Ltd.’s portfolio.Rathbone Brothers Plc reduced its stake in GG by selling 19,820 shares or 39.86% in the most recent quarter. The Hedge Fund company now holds 29,900 shares of GG which is valued at $540,592. Goldcorp (USA) makes up approx 0.03% of Rathbone Brothers Plc’s portfolio.Huntington National Bank reduced its stake in GG by selling 3,513 shares or 75.71% in the most recent quarter. The Hedge Fund company now holds 1,127 shares of GG which is valued at $21,244.

Goldcorp (USA) closed down -0.33 points or -1.75% at $18.5 with 89,76,546 shares getting traded on Wednesday. Post opening the session at $18.66, the shares hit an intraday low of $18.06 and an intraday high of $18.68 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, Goldcorp (USA) reported $-0.09 EPS for the quarter, missing the analyst consensus estimate by $ -0.13 based on the information available during the earnings call on Jul 27, 2016. Analyst had a consensus of $0.04. The company had revenue of $921.00 million for the quarter, compared to analysts expectations of $902.71 million. The company’s revenue was down -30.1 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.08 EPS.

Many Wall Street Analysts have commented on Goldcorp (USA). Goldcorp (USA) was Initiated by Morgan Stanley to “Overweight” on Aug 9, 2016. Citigroup Initiated Goldcorp (USA) on Aug 2, 2016 to “Neutral”, Price Target of the shares are set at $20.

Goldcorp Inc. (Goldcorp) is a gold producer engaged in the acquisition exploration development and operation of gold properties in Canada the United States Mexico and Central and South America. The Company’s principal products are gold and the byproduct silver copper lead and zinc. Goldcorp’s operating assets include four mines in Canada two mines in Mexico and four in Central and South America.

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