OceanaGold Co. (TSE:OGC) Receives Average Recommendation of “Buy” from Brokerages

by · The Cerbat Gem

Shares of OceanaGold Co. (TSE:OGC – Get Free Report) have been assigned a consensus recommendation of “Buy” from the five brokerages that are covering the stock, Marketbeat reports. Five analysts have rated the stock with a buy recommendation. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is C$56.11.

Several research analysts have commented on OGC shares. Desjardins raised their price objective on OceanaGold from C$63.00 to C$65.00 and gave the company a “buy” rating in a research report on Friday, February 20th. Canadian Imperial Bank of Commerce increased their target price on OceanaGold from C$66.00 to C$72.00 in a research note on Thursday, February 26th. TD boosted their price target on OceanaGold from C$55.00 to C$56.00 and gave the stock a “buy” rating in a research report on Tuesday, April 21st. TD Securities upped their price target on OceanaGold from C$38.00 to C$56.00 in a report on Thursday, January 22nd. Finally, Scotiabank increased their price objective on shares of OceanaGold from C$44.00 to C$65.00 in a research report on Monday, January 26th.

Read Our Latest Stock Analysis on OGC

OceanaGold Price Performance

OGC stock traded down C$2.84 during midday trading on Friday, reaching C$43.07. 1,050,600 shares of the company’s stock traded hands, compared to its average volume of 866,407. The company has a market capitalization of C$9.64 billion, a P/E ratio of 13.13 and a beta of 2.54. OceanaGold has a fifty-two week low of C$16.53 and a fifty-two week high of C$59.20. The business has a 50-day moving average price of C$45.14 and a two-hundred day moving average price of C$43.02.

OceanaGold (TSE:OGC – Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The company reported C$1.40 earnings per share (EPS) for the quarter. The company had revenue of C$993.37 million during the quarter. OceanaGold had a net margin of 33.78% and a return on equity of 34.87%. As a group, research analysts forecast that OceanaGold will post 0.6283048 earnings per share for the current fiscal year.

OceanaGold declared that its board has approved a share repurchase program on Wednesday, February 18th that permits the company to buyback $350.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 2.9% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s management believes its stock is undervalued.

OceanaGold Company Profile

(Get Free Report)

OceanaGold is a global intermediate gold and copper producer committed to safely and responsibly maximizing the generation of Free Cash Flow from our operations and delivering strong returns for our shareholders. We have a portfolio of four operating mines: the wholly-owned Haile Gold Mine in the United States of America ; the wholly-owned Macraes and Waihi operations in New Zealand ; and the 80%-owned Didipio Mine in the Philippines.

Featured Articles