Research Analysts Set Expectations for OceanaGold Co.’s Q1 2024 Earnings (TSE:OGC)

OceanaGold Co. (TSE:OGC) – Stock analysts at Raymond James reduced their Q1 2024 earnings per share (EPS) estimates for shares of OceanaGold in a report issued on Thursday, April 18th. Raymond James analyst F. Hamed now forecasts that the company will earn $0.01 per share for the quarter, down from their prior forecast of $0.03. The consensus estimate for OceanaGold’s current full-year earnings is $0.30 per share. Raymond James also issued estimates for OceanaGold’s Q3 2024 earnings at $0.11 EPS and Q4 2024 earnings at $0.11 EPS.

OceanaGold (TSE:OGC) last issued its quarterly earnings results on Wednesday, February 21st. The company reported C$0.01 earnings per share for the quarter, missing the consensus estimate of C$0.02 by C($0.01). The company had revenue of C$363.94 million during the quarter. OceanaGold had a net margin of 8.10% and a return on equity of 4.88%.

Several other equities research analysts have also recently weighed in on the company. Cormark decreased their price target on OceanaGold from C$3.25 to C$3.00 in a research note on Monday, February 26th. CIBC raised their target price on OceanaGold from C$4.50 to C$5.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 7th. Desjardins raised their target price on OceanaGold from C$3.50 to C$4.00 and gave the stock a “buy” rating in a research note on Tuesday, January 30th. Jefferies Financial Group set a C$3.50 target price on OceanaGold and gave the stock a “buy” rating in a research note on Thursday, February 29th. Finally, National Bankshares decreased their target price on OceanaGold from C$4.00 to C$3.75 in a research note on Friday, February 23rd. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of C$3.94.

OceanaGold Trading Down 1.8 %

Shares of OGC stock opened at C$3.19 on Monday. The firm has a market capitalization of C$2.26 billion, a PE ratio of 19.94 and a beta of 1.50. The company has a 50-day moving average of C$2.84. OceanaGold has a 1-year low of C$2.08 and a 1-year high of C$3.50.

OceanaGold Announces Dividend

The business also recently announced a Semi-Annual dividend, which will be paid on Friday, April 26th. Stockholders of record on Thursday, March 7th will be issued a $0.013 dividend. The ex-dividend date of this dividend is Wednesday, March 6th. OceanaGold’s dividend payout ratio is presently 18.75%.

Insider Activity

In related news, Director Paul Benson bought 44,400 shares of the company’s stock in a transaction dated Tuesday, February 27th. The shares were bought at an average price of C$2.25 per share, for a total transaction of C$99,678.00. Corporate insiders own 0.14% of the company’s stock.

OceanaGold Company Profile

OceanaGold Corporation, a gold and copper producer, engages in exploration, development, and operation of mineral properties in the United States, the Philippines, and New Zealand. It explores for gold, copper, and silver deposits. OceanaGold Corporation was founded in 2003 and is based in Vancouver, Canada.