Goldcorp Inc. GG has closed the earlier announced acquisition of all issued and outstanding shares of Exeter Resource Corporation, not already owned by the company, through a planned arrangement approved by the court.
Pursuant to this arrangement, Goldcorp acquired all issued and outstanding Exeter shares in exchange of 0.12 of a common share of Goldcorp for each Exeter common share, resulting in 100% ownership.
In regards to this arrangement, Goldcorp will issue a total of up to 1,896,145 Goldcorp shares to the former Exeter shareholders, who now own roughly 0.22% of the 865,034,962 Goldcorp shares issued and outstanding, on a non-diluted basis.
The Exeter Shares are now expected to be delisted from the Toronto Stock Exchange by Aug 8 and also from the Frankfurt Stock Exchange (Borse Frankfurt) and the NYSE-MKT.
Goldcorp’s shares have lost 5.9% in last three months versus the 4.6% gain of its industry.
Goldcorp Inc. Price and Consensus | Goldcorp Inc. Quote
Goldcorp currently carries a Zacks Rank #3 (Hold).
Stocks to Consider
Some better-ranked stocks in the basic materials space are Akzo Nobel N.V. AKZOY, Versum Materials Inc. VSM and Kronos Worldwide Inc KRO. All three stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks Rank #1 stocks here.
Akzo Nobel has expected long-term earnings growth rate of 11.1%.
Versum Materials has expected long-term earnings growth rate of 11%.
Kronos has expected long-term earnings growth rate of 5%.
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