Finance

Analyzing the Insider Data for Goldcorp Inc. (GG)

Recent insider trends for Goldcorp Inc. (NYSE:GG) have caught the attention of investors. Insider data is useful because it can reveal what a company’s executives and largest shareholders feel about a stock. In this case, the data has some interesting things to say about how GG might perform in the future.

Institutions own 54.40% of Goldcorp Inc. (GG)’s shares. The total value of these holdings, in millions, is $5,797. Among active positions in the latest quarter, 150 holders increased their positions by a total of 46.69 million shares, 166 holders decreased the positions by a total of 51.78 million shares, and 80 holders held their positions. This works out to a net decrease in ownership of 5.09 million shares, and suggests that institutions are feeling bearish about the stock.

Among new and sold out positions, 35 holders initiated new positions by a total of 6.56 million shares and 30 holders exited their positions by a total of 8.44 million shares. This nets out to a decrease of 1.87 million shares and is another bearish sign for GG.

Insider ownership increased by a total of 0 shares, which suggests that GG’s key executives are feeling more optimistic about the outlook for the stock. The data from the past twelve months tells a similar story: ownership increased by a net of 0 shares.



Short interest is another tool that analysts use to gauge investor sentiment. It represents the number of a stock’s shares that are being shorted by investors. Goldcorp Inc. (NYSE:GG)’s short interest is 7.85 million shares, or 0.93% of the float. This represents an increase of 45% in the number of shares being shorted compared to the previous reading, and implies that investors felt more pessimistic about the stock during the past two weeks.

In light of the insider ownership and trading data it makes sense to consider technicals to see if they come to a similar conclusion about the outlook for GG. A composite of 13 technical indicators that includes measures such as moving averages and momentum oscillators suggests that GG is a Strong sell, which implies that GG is expected to underperform the market based on prior trading patterns.

Conclusion




Institutional ownership trends suggest that the stock is cheap and the insider trading data indicates that insiders are bullish. Technical indicators (also) suggest that Goldcorp Inc. (NYSE:GG) is overvalued.

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