Telemark Asset Management Lowers stake in Goldcorp (USA) (GG)

Goldcorp (USA) (GG) : Telemark Asset Management reduced its stake in Goldcorp (USA) by 12.5% during the most recent quarter end. The investment management company now holds a total of 700,000 shares of Goldcorp (USA) which is valued at $13,216,000 after selling 100,000 shares in Goldcorp (USA) , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.Goldcorp (USA) makes up approximately 2.82% of Telemark Asset Management’s portfolio.

Other Hedge Funds, Including , Citadel Advisors boosted its stake in GG in the latest quarter, The investment management firm added 683,055 additional shares and now holds a total of 881,766 shares of Goldcorp (USA) which is valued at $16,647,742. Goldcorp (USA) makes up approx 0.04% of Citadel Advisors’s portfolio.Baird Financial Group reduced its stake in GG by selling 57,879 shares or 9.11% in the most recent quarter. The Hedge Fund company now holds 577,803 shares of GG which is valued at $10,908,921. Goldcorp (USA) makes up approx 0.10% of Baird Financial Group’s portfolio.Advisors Asset Management reduced its stake in GG by selling 2,782 shares or 6.85% in the most recent quarter. The Hedge Fund company now holds 37,841 shares of GG which is valued at $717,465. Goldcorp (USA) makes up approx 0.01% of Advisors Asset Management’s portfolio.Shell Asset Management Co reduced its stake in GG by selling 168,141 shares or 17.2% in the most recent quarter. The Hedge Fund company now holds 809,496 shares of GG which is valued at $15,259,000. Goldcorp (USA) makes up approx 0.35% of Shell Asset Management Co’s portfolio.

Goldcorp (USA) opened for trading at $15.88 and hit $16.49 on the upside on Monday, eventually ending the session at $16.32, with a gain of 2.32% or 0.37 points. The heightened volatility saw the trading volume jump to 75,79,966 shares. Company has a market cap of $13,921 M.

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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