What’s Ahead for Goldcorp Inc. (USA) After Today’s Bearish Options Activity?

 What's Ahead for Goldcorp Inc. (USA) After Today's Bearish Options Activity?

In today’s session Goldcorp Inc. (USA) (GG) recorded an unusually high (960) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the November, 2016 put, expecting serious GG decrease. With 960 contracts traded and 2564 open interest for the Nov, 16 contract, it seems this is a quite bearish bet. The option with symbol: GG161118P00014000 closed last at: $0.36 or 50% up. About 989,038 shares traded hands. Goldcorp Inc. (USA) (NYSE:GG) has risen 0.21% since March 2, 2016 and is uptrending. It has underperformed by 8.05% the S&P500.

Analysts await Goldcorp Inc. (USA) (NYSE:GG) to report earnings on November, 3. They expect $0.14 earnings per share, up 450.00% or $0.18 from last year’s $-0.04 per share. GG’s profit will be $109.05M for 26.09 P/E if the $0.14 EPS becomes a reality. After $-0.01 actual earnings per share reported by Goldcorp Inc. (USA) for the previous quarter, Wall Street now forecasts -1,500.00% EPS growth.

Goldcorp Inc. (USA) (NYSE:GG) Ratings Coverage

Out of 14 analysts covering Goldcorp Inc. (NYSE:GG), 2 rate it a “Buy”, 1 “Sell”, while 11 “Hold”. This means 14% are positive. $22 is the highest target while $13.50 is the lowest. The $17.85 average target is 22.18% above today’s ($14.61) stock price. Goldcorp Inc. has been the topic of 27 analyst reports since July 24, 2015 according to StockzIntelligence Inc. On Tuesday, August 9 the stock rating was initiated by Morgan Stanley with “Overweight”. The firm earned “Neutral” rating on Tuesday, August 2 by Citigroup. The firm has “Underperform” rating given on Monday, April 11 by RBC Capital Markets. The rating was downgraded by TD Securities on Friday, February 26 to “Hold”. The rating was maintained by Jefferies on Thursday, July 14 with “Hold”. The rating was downgraded by Macquarie Research to “Neutral” on Tuesday, March 15. UBS downgraded the shares of GG in a report on Monday, March 28 to “Neutral” rating. The firm has “Hold” rating given on Monday, October 5 by Deutsche Bank. The firm earned “Outperform” rating on Thursday, September 8 by National Bank Canada. Berenberg initiated the shares of GG in a report on Wednesday, September 7 with “Hold” rating.

According to Zacks Investment Research, “Goldcorp has operations in Canada, the US, Mexico and Central and South America. Apart from gold, the company also produces copper and silver. The company’s principal producing mining properties are the Red Lake, Porcupine and Musselwhite gold mines in Canada The Penasquito gold/silver/zinc/lead mine, the Pueblo Viejo gold mine (40% interest) in the Dominican Republic, the Los Filos and El Sauzal gold mines in Mexico the Marlin gold/silver mine in Guatemala the Alumbrera gold/copper mine (37.5% interest) in Argentina and the Marigold (66.7% interest) and Wharf gold mines in the United States. Goldcorp has significant development projects which include the Cerro Negro gold project in Argentina l onore and Cochenour gold projects in Canada, the El Morro gold/copper project (70% interest) in Chile and the Camino Rojo gold/silver projects in Mexico.”

Goldcorp Inc. is a gold producer engaged in the operation, exploration, development and acquisition of precious metal properties in Canada, the United States, Mexico, and Central and South America. The company has a market cap of $11.38 billion. The Firm is engaged in the sale of gold, silver, lead, zinc and copper. It currently has negative earnings. The Company’s divisions include Red Lake Gold Mines Ontario Partnership , Goldcorp Canada Ltd./Goldcorp Inc. (Porcupine), Musselwhite, Les Mines Opinaca Ltee (Eleonore), Minera Penasquito S.A. de C.V. and Camino Rojo S.A. de C.V. (Penasquito), Desarrollos Mineros San Luis S.A. de C.V. (Los Filos), Montana Exploradora de Guatemala S.A. (Marlin), Oroplata S.A. (Cerro Negro), Corredor SpA (Project Corridor), Minera Alumbrera Limited (Alumbrera), El Morro and Pueblo Viejo Dominicana Corporation (Pueblo Viejo).

GG Company Profile

Goldcorp Inc., incorporated on December 1, 2006, is a gold producer engaged in the operation, exploration, development and acquisition of precious metal properties in Canada, the United States, Mexico, and Central and South America. The Firm is engaged in the sale of gold, silver, lead, zinc and copper. The Company’s principal producing mining properties consist of the Red Lake, Porcupine, Musselwhite and Eleonore gold mines in Canada; the Penasquito gold/silver/lead/zinc mine and the Los Filos gold mine in Mexico; the Marlin gold/silver mine in Guatemala; the Cerro Negro gold/silver mine and the Alumbrera gold/copper mine in Argentina, and the Pueblo Viejo gold/silver/copper mine in the Dominican Republic. The Company’s divisions include Red Lake Gold Mines Ontario Partnership (Red Lake), Goldcorp Canada Ltd./Goldcorp Inc. (Porcupine), Musselwhite, Les Mines Opinaca Ltee (Eleonore), Minera Penasquito S.A. de C.V. and Camino Rojo S.A. de C.V. (Penasquito), Desarrollos Mineros San Luis S.A. de C.V. (Los Filos), Montana Exploradora de Guatemala S.A. (Marlin), Oroplata S.A. (Cerro Negro), Corredor SpA (Project Corridor), Minera Alumbrera Limited (Alumbrera), El Morro and Pueblo Viejo Dominicana Corporation (Pueblo Viejo).

More recent Goldcorp Inc. (USA) (NYSE:GG) news were published by: Investorplace.com which released: “Why Deutsche Bank AG (USA) (DB), Goldcorp Inc. (USA) (GG) and KBR, Inc. (KBR …” on October 03, 2016. Also Fool.ca published the news titled: “Goldcorp Inc.’s Founder Thinks Gold Is Headed to $1900: Here’s Why He May Be Right” on September 30, 2016. Fool.ca‘s news article titled: “Goldcorp Inc.: Is This Stock a Buy?” with publication date: August 09, 2016 was also an interesting one.

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