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Goldcorp

TSX:G
Snowflake Description

Reasonable growth potential and slightly overvalued.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
G
TSX
CA$12B
Market Cap
  1. Home
  2. CA
  3. Materials
Company description

Goldcorp Inc. acquires, explores for, develops, and operates precious metal properties in Canada, the United States, Mexico, and Central and South America. The last earnings update was 33 days ago. More info.


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G Share Price and Events
7 Day Returns
-1.3%
TSX:G
0.1%
CA Metals and Mining
0.7%
CA Market
1 Year Returns
-17.3%
TSX:G
-7.9%
CA Metals and Mining
-0.1%
CA Market
G Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Goldcorp (G) -1.3% 0.3% 10.1% -17.3% -34.7% -49.7%
CA Metals and Mining 0.1% 1.5% 10.1% -7.9% 5.7% -23.5%
CA Market 0.7% 1.6% 11.5% -0.1% 15.4% 5%
1 Year Return vs Industry and Market
  • G underperformed the Metals and Mining industry which returned -7.9% over the past year.
  • G underperformed the Market in Canada which returned -0.1% over the past year.
Price Volatility
G
Industry
5yr Volatility vs Market

Value

 Is Goldcorp undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Goldcorp to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data    Our intrinsic value calculation method has changed recently, learn more here.

Below are the data sources, inputs and calculation used to determine the intrinsic value for Goldcorp.

TSX:G Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 12 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 9.7%
Perpetual Growth Rate 10-Year CA Government Bond Rate 1.9%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for TSX:G
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year CA Govt Bond Rate 1.9%
Equity Risk Premium S&P Global 6%
Metals and Mining Unlevered Beta Simply Wall St/ S&P Global 1.17
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.17 (1 + (1- 26.5%) (33.21%))
1.305
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.31
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.95% + (1.305 * 5.96%)
9.73%

Discounted Cash Flow Calculation for TSX:G using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Goldcorp is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

TSX:G DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 9.73%)
2019 423.39 Analyst x9 385.86
2020 835.84 Analyst x9 694.22
2021 1,032.76 Analyst x5 781.74
2022 936.00 Analyst x2 645.69
2023 1,160.00 Analyst x1 729.28
2024 1,238.57 Est @ 6.77% 709.65
2025 1,304.52 Est @ 5.33% 681.18
2026 1,360.77 Est @ 4.31% 647.56
2027 1,409.79 Est @ 3.6% 611.42
2028 1,453.57 Est @ 3.11% 574.52
Present value of next 10 years cash flows $6,461.12
TSX:G DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $1,453.57 × (1 + 1.95%) ÷ (9.73% – 1.95%)
$19,047.62
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $19,047.62 ÷ (1 + 9.73%)10
$7,528.57
TSX:G Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $6,461.12 + $7,528.57
$13,989.69
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $13,989.69 / 867.55
$16.13
TSX:G Discount to Share Price
Calculation Result
Exchange Rate USD/CAD
(Reporting currency to currency of TSX:G)
1.334
Value per Share
(CAD)
= Value per Share in USD x Exchange Rate (USD/CAD)
= $16.13 x 1.334
CA$21.52
Value per share (CAD) From above. CA$21.52
Current discount Discount to share price of CA$14.38
= -1 x (CA$14.38 - CA$21.52) / CA$21.52
33.2%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Goldcorp is available for.
Intrinsic value
33%
Share price is CA$14.38 vs Future cash flow value of CA$21.52
Current Discount Checks
For Goldcorp to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Goldcorp's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Goldcorp's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Goldcorp's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Goldcorp's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
TSX:G PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in USD $-4.77
TSX:G Share Price ** TSX (2019-03-18) in CAD CA$14.38
TSX:G Share Price converted to USD reporting currency Exchange rate (CAD/ USD) 0.749 $10.78
Canada Metals and Mining Industry PE Ratio Median Figure of 115 Publicly-Listed Metals and Mining Companies 13.41x
Canada Market PE Ratio Median Figure of 542 Publicly-Listed Companies 14.84x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Goldcorp.

TSX:G PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= TSX:G Share Price ÷ EPS (both in USD)

= 10.78 ÷ -4.77

-2.26x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Goldcorp is loss making, we can't compare its value to the CA Metals and Mining industry average.
  • Goldcorp is loss making, we can't compare the value of its earnings to the Canada market.
Price based on expected Growth
Does Goldcorp's expected growth come at a high price?
Raw Data
TSX:G PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -2.26x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 12 Analysts
118%per year
Canada Metals and Mining Industry PEG Ratio Median Figure of 35 Publicly-Listed Metals and Mining Companies 0.69x
Canada Market PEG Ratio Median Figure of 251 Publicly-Listed Companies 1.2x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Goldcorp, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Goldcorp's assets?
Raw Data
TSX:G PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in USD $11.38
TSX:G Share Price * TSX (2019-03-18) in CAD CA$14.38
TSX:G Share Price converted to USD reporting currency Exchange rate (CAD/ USD) 0.749 $10.78
Canada Metals and Mining Industry PB Ratio Median Figure of 1,081 Publicly-Listed Metals and Mining Companies 1.45x
Canada Market PB Ratio Median Figure of 2,348 Publicly-Listed Companies 1.57x
TSX:G PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSX:G Share Price ÷ Book Value per Share (both in USD)

= 10.78 ÷ 11.38

0.95x

* Primary Listing of Goldcorp.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Goldcorp is good value based on assets compared to the CA Metals and Mining industry average.
X
Value checks
We assess Goldcorp's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Metals and Mining industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Metals and Mining industry average (and greater than 0)? (1 check)
  5. Goldcorp has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Goldcorp expected to perform in the next 1 to 3 years based on estimates from 12 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
118%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Goldcorp expected to grow at an attractive rate?
  • Goldcorp's earnings growth is expected to exceed the low risk savings rate of 1.9%.
Growth vs Market Checks
  • Goldcorp's earnings growth is expected to exceed the Canada market average.
  • Goldcorp's revenue growth is expected to exceed the Canada market average.
Annual Growth Rates Comparison
Raw Data
TSX:G Future Growth Rates Data Sources
Data Point Source Value (per year)
TSX:G Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 12 Analysts 118%
TSX:G Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 12 Analysts 10.1%
Canada Metals and Mining Industry Earnings Growth Rate Market Cap Weighted Average 33.7%
Canada Metals and Mining Industry Revenue Growth Rate Market Cap Weighted Average 6.9%
Canada Market Earnings Growth Rate Market Cap Weighted Average 17.9%
Canada Market Revenue Growth Rate Market Cap Weighted Average 6.8%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
TSX:G Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 12 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
TSX:G Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 4,919 1,976 1
2022-12-31 4,505 1,567 -14 2
2021-12-31 4,332 1,703 480 9
2020-12-31 4,272 1,656 409 12
2019-12-31 3,691 1,314 266 11
TSX:G Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-12-31 3,032 791 -4,149
2018-09-30 3,113 1,133 77
2018-06-30 3,358 1,255 289
2018-03-31 3,387 1,255 555
2017-12-31 3,423 1,211 658
2017-09-30 3,468 939 517
2017-06-30 3,517 891 465
2017-03-31 3,448 967 252
2016-12-31 3,510 799 162
2016-09-30 3,684 961 -4,209
2016-06-30 3,867 1,137 -4,460
2016-03-31 4,302 1,431 -3,984

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Goldcorp's earnings are expected to grow significantly at over 20% yearly.
  • Goldcorp's revenue is expected to grow by 10.1% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
TSX:G Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 12 Analyst Estimates (S&P Global) See Below

All data from Goldcorp Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSX:G Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 0.55 0.71 0.47 6.00
2020-12-31 0.47 0.62 0.32 8.00
2019-12-31 0.31 0.40 0.21 7.00
TSX:G Past Financials Data
Date (Data in USD Millions) EPS *
2018-12-31 -4.77
2018-09-30 0.09
2018-06-30 0.33
2018-03-31 0.64
2017-12-31 0.76
2017-09-30 0.60
2017-06-30 0.54
2017-03-31 0.30
2016-12-31 0.19
2016-09-30 -5.04
2016-06-30 -5.36
2016-03-31 -4.80

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Goldcorp is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Goldcorp's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Canada market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Canada market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Goldcorp has a total score of 4/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Goldcorp performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Goldcorp's growth in the last year to its industry (Metals and Mining).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Goldcorp does not make a profit even though their year on year earnings growth rate was positive over the past 5 years.
  • Unable to compare Goldcorp's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Goldcorp's 1-year growth to the CA Metals and Mining industry average as it is not currently profitable.
Earnings and Revenue History
Goldcorp's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Goldcorp Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSX:G Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 3,032.00 -4,149.00 217.00
2018-09-30 3,113.00 77.00 232.00
2018-06-30 3,358.00 289.00 246.00
2018-03-31 3,387.00 555.00 233.00
2017-12-31 3,423.00 658.00 220.00
2017-09-30 3,468.00 517.00 200.00
2017-06-30 3,517.00 465.00 190.00
2017-03-31 3,448.00 252.00 198.00
2016-12-31 3,510.00 162.00 221.00
2016-09-30 3,684.00 -4,209.00 233.00
2016-06-30 3,867.00 -4,460.00 246.00
2016-03-31 4,302.00 -3,984.00 256.00
2015-12-31 4,375.00 -4,203.00 258.00
2015-09-30 4,138.00 -2,336.00 269.00
2015-06-30 3,879.00 -2,192.00 282.00
2015-03-31 3,575.00 -2,398.00 280.00
2014-12-31 3,436.00 -2,170.00 288.00
2014-09-30 3,493.00 -784.00 275.00
2014-06-30 3,549.00 -736.00 275.00
2014-03-31 3,523.00 -2,867.00 285.00
2013-12-31 3,609.00 -2,657.00 281.00
2013-09-30 3,803.00 -1,190.00 282.00
2013-06-30 4,190.00 -692.00 283.00
2013-03-31 4,413.00 1,515.00 281.00
2012-12-31 4,660.00 1,695.00 299.00
2012-09-30 5,089.00 1,650.00 316.00
2012-06-30 5,115.00 1,488.00 309.00
2012-03-31 5,357.00 1,709.00 311.00

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if Goldcorp has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Goldcorp has efficiently used its assets last year compared to the CA Metals and Mining industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Goldcorp improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Goldcorp's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Metals and Mining industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Goldcorp has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Goldcorp's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Goldcorp's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Goldcorp's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Goldcorp's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Goldcorp's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.3x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Goldcorp Company Filings, last reported 2 months ago.

TSX:G Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 9,875.00 3,105.00 172.00
2018-09-30 13,930.00 2,969.00 166.00
2018-06-30 14,046.00 2,812.00 159.00
2018-03-31 14,219.00 2,674.00 163.00
2017-12-31 14,184.00 2,731.00 234.00
2017-09-30 13,959.00 2,826.00 195.00
2017-06-30 13,858.00 2,810.00 123.00
2017-03-31 13,591.00 2,826.00 212.00
2016-12-31 13,415.00 2,762.00 200.00
2016-09-30 13,344.00 2,930.00 383.00
2016-06-30 12,861.00 3,073.00 365.00
2016-03-31 12,915.00 3,201.00 458.00
2015-12-31 12,848.00 2,960.00 383.00
2015-09-30 17,293.00 2,699.00 330.00
2015-06-30 17,551.00 3,544.00 994.00
2015-03-31 17,258.00 3,888.00 420.00
2014-12-31 17,175.00 3,613.00 549.00
2014-09-30 19,686.00 3,098.00 443.00
2014-06-30 19,847.00 3,456.00 1,291.00
2014-03-31 19,757.00 2,927.00 1,050.00
2013-12-31 19,758.00 2,507.00 630.00
2013-09-30 20,959.00 2,469.00 991.00
2013-06-30 21,042.00 2,459.00 1,426.00
2013-03-31 23,099.00 2,451.00 2,072.00
2012-12-31 22,929.00 828.00 811.00
2012-09-30 22,515.00 771.00 970.00
2012-06-30 22,059.00 759.00 1,266.00
2012-03-31 21,902.00 748.00 1,468.00
  • Goldcorp's level of debt (31.4%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (12.7% vs 31.4% today).
CASH RUNWAY ANALYSIS

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

  • Information is not available.
  • Unable to confirm if Goldcorp has at least 1 year of cash runway based on growing free cash flows without relevant data.
X
Financial health checks
We assess Goldcorp's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Goldcorp has a total score of 1/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Goldcorp's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0.74%
Current annual income from Goldcorp dividends. Estimated to be 0.74% next year.
If you bought CA$2,000 of Goldcorp shares you are expected to receive CA$15 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Goldcorp's pays a lower dividend yield than the bottom 25% of dividend payers in Canada (2.09%).
  • Goldcorp's dividend is below the markets top 25% of dividend payers in Canada (5.65%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
TSX:G Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 12 Analyst Estimates (S&P Global) See Below
Canada Metals and Mining Industry Average Dividend Yield Market Cap Weighted Average of 28 Stocks 1.2%
Canada Market Average Dividend Yield Market Cap Weighted Average of 331 Stocks 3.6%
Canada Minimum Threshold Dividend Yield 10th Percentile 1.1%
Canada Bottom 25% Dividend Yield 25th Percentile 2.1%
Canada Top 25% Dividend Yield 75th Percentile 5.6%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

TSX:G Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 0.08 5.00
2020-12-31 0.08 9.00
2019-12-31 0.08 9.00
TSX:G Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-03-01 0.080 0.737
2018-12-03 0.080 0.783
2018-10-24 0.080 0.856
2018-07-25 0.080 0.735
2018-03-06 0.080 0.583
2017-12-04 0.080 0.607
2017-10-25 0.080 0.610
2017-06-05 0.080 0.606
2017-03-06 0.080 0.552
2016-12-05 0.080 0.540
2016-09-02 0.080 0.540
2016-05-09 0.080 0.446
2016-03-07 0.240 1.417
2016-02-01 0.240 1.674
2016-01-04 0.240 2.187
2015-12-07 0.240 2.050
2015-11-09 0.240 2.016
2015-10-05 0.240 1.729
2015-09-04 0.240 1.861
2015-08-10 0.240 1.687
2015-07-06 0.600 4.225
2015-06-08 0.600 3.605
2015-05-04 0.600 3.291
2015-04-07 0.600 3.114
2015-03-02 0.600 3.144
2015-02-02 0.600 2.647
2015-01-05 0.600 2.677
2014-12-01 0.600 3.189
2014-11-10 0.600 2.953
2014-10-06 0.600 2.801
2014-09-08 0.600 2.492
2014-08-11 0.600 2.177
2014-07-07 0.600 2.155
2014-06-09 0.600 2.282
2014-05-05 0.600 2.487
2014-04-07 0.600 2.442
2014-03-03 0.600 2.284
2014-02-03 0.600 2.261
2014-01-06 0.600 2.576
2013-12-02 0.600 2.809
2013-11-04 0.600 2.538
2013-10-07 0.600 2.385
2013-09-09 0.600 2.288
2013-08-12 0.600 2.001
2013-07-08 0.600 2.235
2013-06-10 0.600 2.377
2013-05-06 0.600 2.121
2013-04-08 0.600 2.061
2013-03-04 0.600 1.842
2013-02-04 0.600 1.766
2013-01-07 0.600 1.645
2012-12-03 0.540 1.475
2012-11-05 0.540 1.310
2012-10-01 0.540 1.221
2012-09-04 0.540 1.213
2012-08-07 0.540 1.394
2012-07-09 0.540 1.554
2012-06-04 0.540 1.397
2012-05-07 0.540 1.507
2012-04-02 0.540 1.342
2012-03-05 0.540 1.190
2012-02-06 0.540 1.132
2012-01-09 0.540 1.165
2011-12-05 0.540 1.169
2011-11-07 0.408 0.797
2011-10-03 0.408 0.859
2011-09-06 0.408 0.820
2011-08-08 0.408 0.796
2011-07-05 0.408 0.801
2011-06-06 0.408 0.856
2011-05-02 0.408 0.827
2011-04-04 0.408 0.759
2011-02-24 0.408 0.845
2011-02-07 0.360 0.820
2011-01-10 0.360 0.874
2010-12-01 0.360 0.795
2010-10-27 0.360 0.791
2010-10-04 0.180 0.414
2010-09-07 0.180 0.418
2010-08-09 0.180 0.430
2010-07-05 0.180 0.446
2010-06-07 0.180 0.411
2010-05-03 0.180 0.414
2010-04-05 0.180 0.447
2010-03-01 0.180 0.463
2010-02-01 0.180 0.491
2010-01-04 0.180 0.464
2009-12-01 0.180 0.445
2009-11-02 0.180 0.421
2009-10-05 0.180 0.447
2009-09-08 0.180 0.446
2009-08-10 0.180 0.493
2009-07-06 0.180 0.499
2009-06-01 0.180 0.508
2009-05-04 0.180 0.526
2009-04-06 0.180 0.626
2009-03-19 0.180 0.539

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Goldcorp is not paying a notable dividend for Canada, therefore no need to check if the payments are stable.
  • Goldcorp is not paying a notable dividend for Canada, therefore no need to check if the payments are increasing.
Current Payout to shareholders
What portion of Goldcorp's earnings are paid to the shareholders as a dividend.
  • No need to calculate the sustainability of Goldcorp's dividends as it is not paying a notable one for Canada.
Future Payout to shareholders
  • No need to calculate the sustainability of Goldcorp's dividends in 3 years as they are not expected to pay a notable one for Canada.
X
Income/ dividend checks
We assess Goldcorp's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Goldcorp afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Goldcorp has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Goldcorp's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Dave Garofalo
COMPENSATION $8,396,050
AGE 53
TENURE AS CEO 3.1 years
CEO Bio

Mr. David A. Garofalo, also known as Dave, B.Comm, C.A., ICD.D has been the Chief Executive Officer and President at Goldcorp Inc. since February 29, 2016. Mr. Garofalo serves as Chief Executive Officer and President at Goldcorp Canada Ltd. Mr. Garofalo served as the Chief Executive Officer and President of HudBay Minerals, Inc. from July 12, 2010 to December 31,2015. He served as the Vice President of Finance and Chief Financial Officer of Contact Diamond Corp. He was with Contact Diamond Corp. since 1998. He served as Chief Financial Officer of Agnico-Eagle Mines Ltd. (now Agnico Eagle Mines Limited) from January 1, 1999 to July 9, 2010 and served as its Senior Vice President of Finance from December 31, 2006 to July 9, 2010 and Vice President of Finance from January 1, 1999 to December 31, 2006. He was with Agnico-Eagle Mines Ltd. since 1998. He has significant expertise in international capital markets, commercial bank financing, corporate development and financial accounting. He served as Treasurer of Agnico-Eagle since June 8, 1998. Prior to joining Agnico-Eagle, He served as Treasurer of Inmet Mining Corporation from 1990 to 1998. He served as Vice President of Finance and Chief Financial Officer of Mentor Exploration & Development Co. Ltd. He has been a Director of Goldcorp Inc. since April 1, 2016. He served as a Director of Coin Hodl Inc.(formerly known as Malbex Resources Inc.) from November 2, 2009 to March 26, 2013. He served as Director of Agnico-Eagle Mines Ltd. since June 17, 2008. He served as Director for HudBay Minerals, Inc. since August 4, 2010 until December 31,2015 and Arapaho Capital Corp. since November 2009. He served as Independent Director of Stornoway Diamond Corporation from November 16, 2006 to March 31, 2011. He served as a Director of Colossus Minerals Inc. from December 13, 2012 to November 2013. He serves on the Board of Directors of Mackenzie Health Foundation. He served as an Independent Director at Tiberon Minerals Ltd. since May 10, 2006. In 2009, he was named Canada's CFO of the Year by Financial Executives International Canada, TopGun CFO by Brendan Wood International (2009 and 2010) and was recognized by IR Magazine with awards for Best Investor Relations by a CFO (2009 and 2010) and Best Investor Relations by a CEO (2011). He is a member of NACD and ICD. He was also The Northern Miner’s Mining Person of the Year for 2012. He is a Member of the Ontario Institute of Chartered Accountants in 1990. He is a graduate of the Directors Education Program with the Institute of Corporate Directors. Mr. Garofalo holds a Bachelor of Commerce from the University of Toronto in 1988.

CEO Compensation
  • Dave's compensation has increased whilst company is loss making.
  • Dave's remuneration is higher than average for companies of similar size in Canada.
Management Team Tenure

Average tenure and age of the Goldcorp management team in years:

2.2
Average Tenure
53.5
Average Age
  • The tenure for the Goldcorp management team is about average.
Management Team

Dave Garofalo

TITLE
President
COMPENSATION
$8M
AGE
53
TENURE
3.1 yrs

Jason Attew

TITLE
Executive VP
COMPENSATION
$2M
TENURE
1.4 yrs

Todd White

TITLE
Executive VP & COO
COMPENSATION
$3M
TENURE
2.2 yrs

Charlene Ripley

TITLE
Executive VP & General Counsel
COMPENSATION
$3M
AGE
54
TENURE
5.9 yrs

Brent G. Bergeron

TITLE
Executive Vice President of Corporate Affairs & Sustainability
COMPENSATION
$2M
TENURE
4.2 yrs

Ivan Mullany

TITLE
Senior Vice President of Technical Services
AGE
55
TENURE
1.6 yrs

Sean Campbell

TITLE
Head of Investor Relations

Christine Marks

TITLE
Director of Corporate Communications

David Stephens

TITLE
Vice President of Corporate Development & Marketing
AGE
36
TENURE
1.4 yrs

Jenine Ellefson

TITLE
Vice President of People
Board of Directors Tenure

Average tenure and age of the Goldcorp board of directors in years:

3.4
Average Tenure
65
Average Age
  • The tenure for the Goldcorp board of directors is about average.
Board of Directors

Ian Telfer

TITLE
Chairman of the Board
COMPENSATION
$1M
AGE
72
TENURE
12.3 yrs

Dave Garofalo

TITLE
President
COMPENSATION
$8M
AGE
53
TENURE
2.9 yrs

Bev Briscoe

TITLE
Vice Chairperson of the Board & Lead Director
COMPENSATION
$415K
AGE
63
TENURE
2.9 yrs

P. Reifel

TITLE
Director
COMPENSATION
$305K
AGE
65
TENURE
12.3 yrs

Ken Williamson

TITLE
Independent Director
COMPENSATION
$319K
AGE
70
TENURE
12.3 yrs

Clement Pelletier

TITLE
Independent Director
COMPENSATION
$314K
AGE
72
TENURE
4.8 yrs

Margot Franssen

TITLE
Independent Director
COMPENSATION
$316K
AGE
65
TENURE
3.9 yrs

Charlie Sartain

TITLE
Director
COMPENSATION
$326K
AGE
57
TENURE
2.2 yrs

Matthew Coon Come

TITLE
Director
COMPENSATION
$77K
AGE
61
TENURE
1.7 yrs

Cristina Bitar

TITLE
Director
TENURE
0.4 yrs
Who owns this company?
Recent Insider Trading
  • Goldcorp insiders have sold more shares than they have bought in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (CA$) Value (CA$)
14. Mar 19 Sell Lynsey Sherry Individual 12. Mar 19 12. Mar 19 -2,000 CA$14.94 CA$-29,880
14. Mar 19 Sell Sean McCarthy Individual 08. Mar 19 08. Mar 19 -8,422 CA$14.37 CA$-120,750
04. Mar 19 Sell Jack Henris Individual 04. Mar 19 04. Mar 19 -2,488 CA$13.98 CA$-34,782
26. Feb 19 Sell John Mullaly Individual 20. Feb 19 21. Feb 19 -5,271 CA$15.26 CA$-80,341
26. Feb 19 Sell Jack Henris Individual 20. Feb 19 20. Feb 19 -2,482 CA$15.22 CA$-37,774
26. Feb 19 Sell Luis Canepari Individual 26. Feb 19 26. Feb 19 -6,000 CA$14.20 CA$-85,200
25. Feb 19 Sell Donald Burke Individual 20. Feb 19 21. Feb 19 -2,325 CA$15.26 CA$-35,451
25. Feb 19 Buy Lynsey Sherry Individual 31. Dec 18 31. Dec 18 9 CA$15.27 CA$137
25. Feb 19 Sell Patrick Merrin Individual 20. Feb 19 20. Feb 19 -3,510 CA$15.22 CA$-53,419
25. Feb 19 Sell Anna Tudela Individual 22. Feb 19 22. Feb 19 -10,000 CA$14.58 CA$-145,802
23. Feb 19 Sell David Stephens Individual 21. Feb 19 21. Feb 19 -1,971 CA$15.43 CA$-30,413
21. Feb 19 Sell Lisa Wade Individual 21. Feb 19 21. Feb 19 -5,512 CA$15.40 CA$-84,895
21. Feb 19 Sell Luis Canepari Individual 20. Feb 19 20. Feb 19 -2,365 CA$15.22 CA$-35,993
21. Feb 19 Sell Todd White Individual 20. Feb 19 20. Feb 19 -2,351 CA$15.22 CA$-35,782
21. Feb 19 Sell Paul Harbidge Individual 21. Feb 19 21. Feb 19 -1,292 CA$15.23 CA$-19,677
19. Feb 19 Sell Anna Tudela Individual 19. Feb 19 19. Feb 19 -2,725 CA$14.87 CA$-40,521
25. May 18 Sell Sophie Bergeron Individual 24. May 18 24. May 18 -922 CA$18.05 CA$-16,642
22. May 18 Buy Patrick Merrin Individual 17. May 18 17. May 18 8,800 CA$17.29 CA$152,152
07. Apr 18 Sell Christopher Cormier Individual 23. Mar 18 23. Mar 18 -6,522 CA$17.97 CA$-117,200
X
Management checks
We assess Goldcorp's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Goldcorp has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Is Goldcorp Inc. (TSE:G) As Strong As Its Balance Sheet Indicates?

Stocks with market capitalization between $2B and $10B, such as Goldcorp Inc. … This article will examine G’s financial liquidity and debt levels to get an idea of whether the company can deal with cyclical downturns and maintain funds to accommodate strategic spending for future growth. … Note that this commentary is very high-level and solely focused on financial health, so I suggest you dig deeper yourself.

Simply Wall St -

Did Goldcorp Inc (TSE:G) Insiders Sell Shares?

So we'll take a look at whether insiders have been buying or selling shares in Goldcorp Inc (TSE:G). … But logic dictates you should pay some attention to whether insiders are buying or selling shares. … That means that an insider was happy to buy shares at above the current price.

Simply Wall St -

Why Goldcorp Inc's (TSE:G) CEO Pay Matters To You

First, this article will compare CEO compensation with compensation at similar sized companies. … How Does Dave Garofalo's Compensation Compare With Similar Sized Companies. … Our data indicates that Goldcorp Inc is worth CA$10.6b, and total annual CEO compensation is US$8m.

Simply Wall St -

Is Goldcorp Inc (TSE:G) A Financially Strong Company?

Investors looking for stocks with high market liquidity and little debt on the balance sheet should consider Goldcorp Inc (TSE:G). … These firms won’t be left high and dry if liquidity dries up, and they will be relatively unaffected by rises in interest rates. … Today I will analyse the latest financial data for G to determine is solvency and liquidity and whether the stock is a sound investment.

Simply Wall St -

What Does Goldcorp Inc's (TSE:G) PE Ratio Tell You?

I am writing today to help inform people who are new to the stock market. … While this makes G appear like a stock to avoid or sell if you own it, you might change your mind after I explain the assumptions behind the P/E ratio. … I will explain what the P/E ratio is as well as what you should look out for when using it

Simply Wall St -

Why Goldcorp Inc (TSE:G) Delivered An Inferior ROE Compared To The Industry

I am writing today to help inform people who are new to the stock market. … and want a simplistic look at the return on Goldcorp Inc (TSE:G) stock. … Goldcorp Inc’s (TSE:G) most recent return on equity was a substandard 3.90% relative to its industry performance of 11.25% over the past year.

Simply Wall St -

What Does Goldcorp Inc's (TSE:G) Share Price Indicate?

This means that the opportunity to buy Goldcorp at a good price has disappeared! … Buying a great company with a robust outlook at a cheap price is always a good investment, so let’s also take a look at the company's future expectations. … G’s future growth appears to have been factored into the current share price, with shares trading above its fair value.

Simply Wall St -

Goldcorp Inc (TSE:G): What's The Analyst Consensus Outlook?

Investors may find it useful to understand how market analysts view Goldcorp's earnings growth outlook over the next few years and whether the future looks even brighter than the past. … View our latest analysis for Goldcorp Market analysts' prospects for next year seems pessimistic, with earnings decreasing by a double-digit -43.78%. … The slope of this line is the rate of earnings growth, which in this case is 8.66%.

Simply Wall St -

Goldcorp Inc (TSE:G): Time For A Financial Health Check

At this current level of debt, the current cash and short-term investment levels stands at US$234.00M , ready to deploy into the business. … On top of this, G has produced US$1.21B in operating cash flow over the same time period, leading to an operating cash to total debt ratio of 44.34%, meaning that G’s current level of operating cash is high enough to cover debt. … G’s level of debt is appropriate relative to its total equity, at 19.25%.

Simply Wall St -

How Did Goldcorp Inc's (TSE:G) 3.70% ROE Fare Against The Industry?

See our latest analysis for Goldcorp Peeling the layers of ROE – trisecting a company’s profitability Firstly, Return on Equity, or ROE, is simply the percentage of last years’ earning against the book value of shareholders’ equity. … Return on Equity = Net Profit ÷ Shareholders Equity Returns are usually compared to costs to measure the efficiency of capital. … This is called the Dupont Formula: Dupont Formula ROE = profit margin × asset turnover × financial leverage ROE = (annual net profit ÷ sales) × (sales ÷ assets) × (assets ÷ shareholders’ equity) ROE = annual net profit ÷ shareholders’ equity TSX:G Last Perf Feb 15th 18 Essentially, profit margin shows how much money the company makes after paying for all its expenses.

Simply Wall St -

Company Info

Description

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. The company was founded in 1954 and is headquartered in Vancouver, Canada.

Details
Name: Goldcorp Inc.
G
Exchange: TSX
Founded: 1954
CA$12,475,393,891
867,551,731
Website: http://www.goldcorp.com
Address: Goldcorp Inc.
Park Place,
Suite 3400,
Vancouver,
British Columbia, V6C 2X8,
Canada
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSX G Common Shares The Toronto Stock Exchange CA CAD 14. Nov 1980
NYSE GG Common Shares New York Stock Exchange US USD 14. Nov 1980
DB GO5 Common Shares Deutsche Boerse AG DE EUR 14. Nov 1980
XTRA GO5 Common Shares XETRA Trading Platform DE EUR 14. Nov 1980
LSE 0R05 Common Shares London Stock Exchange GB CAD 14. Nov 1980
SWX G Common Shares SIX Swiss Exchange CH CHF 14. Nov 1980
BMV GG N Common Shares Bolsa Mexicana de Valores MX MXN 14. Nov 1980
BASE GG CEDEAR EACH REPR 1 COM NPV Buenos Aires Stock Exchange AR ARS 14. Mar 2011
Number of employees
Current staff
Staff numbers
7,079
Goldcorp employees.
Industry
Gold
Materials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/03/18 23:36
End of day share price update: 2019/03/18 00:00
Last estimates confirmation: 2019/03/14
Last earnings filing: 2019/02/13
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.