Carmignac Gestion adds Goldcorp (USA) (GG) to its portfolio

Goldcorp (USA) (GG) : Carmignac Gestion added new position in Goldcorp (USA) during the most recent quarter end. The investment management firm now holds 21,651,343 shares of Goldcorp (USA) which is valued at $388.9 Million , the company said in a statement filed on May 13, 2016 with the SEC.Goldcorp (USA) makes up approximately 3.67% of Carmignac Gestion’s portfolio.

Other Hedge Funds, Including , Marshall Wace Llp added GG to its portfolio by purchasing 117,160 company shares during the most recent quarter which is valued at $2.1 Million. Goldcorp (USA) makes up approx 0.02% of Marshall Wace Llp’s portfolio.Bard Associates Inc reduced its stake in GG by selling 700 shares or 1.73% in the most recent quarter. The Hedge Fund company now holds 39,796 shares of GG which is valued at $714,736. Goldcorp (USA) makes up approx 0.39% of Bard Associates Inc’s portfolio.Capital Fund Management S.a. boosted its stake in GG in the latest quarter, The investment management firm added 1,241,578 additional shares and now holds a total of 1,266,547 shares of Goldcorp (USA) which is valued at $24.3 Million. Goldcorp (USA) makes up approx 0.42% of Capital Fund Management S.a.’s portfolio.

Goldcorp (USA) opened for trading at $16.24 and hit $16.895 on the upside on Wednesday, eventually ending the session at $16.78, with a gain of 2.32% or 0.38 points. The heightened volatility saw the trading volume jump to 1,26,03,068 shares. Company has a market cap of $13,961 M.

On the company’s financial health, Goldcorp (USA) reported $-5.14 EPS for the quarter, missing the analyst consensus estimate by $ -5.14 based on the information available during the earnings call on Feb 25, 2016. Analyst had a consensus of $0.00. The company had revenue of $1238.00 million for the quarter, compared to analysts expectations of $1074.76 million. The company’s revenue was up 13.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.07 EPS.

Many Wall Street Analysts have commented on Goldcorp (USA). Goldcorp (USA) was Downgraded by Goldman to ” Neutral” on May 11, 2016. Company shares were Downgraded by RBC Capital Mkts on Apr 11, 2016 to ” Underperform”, Firm has raised the Price Target to $ 16.50 from a previous price target of $12 .Company shares were Downgraded by UBS on Mar 28, 2016 to ” Neutral”, Firm has raised the Price Target to $ 17 from a previous price target of $16.50 .

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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