OceanaGold Co. to Post Q1 2024 Earnings of $0.04 Per Share, Cormark Forecasts (TSE:OGC)

OceanaGold Co. (TSE:OGC) – Investment analysts at Cormark lowered their Q1 2024 EPS estimates for shares of OceanaGold in a research note issued on Monday, April 22nd. Cormark analyst R. Gray now forecasts that the company will earn $0.04 per share for the quarter, down from their prior forecast of $0.10. The consensus estimate for OceanaGold’s current full-year earnings is $0.30 per share.

OGC has been the subject of a number of other reports. National Bankshares reduced their price target on shares of OceanaGold from C$4.00 to C$3.75 in a report on Friday, February 23rd. Desjardins raised their price objective on shares of OceanaGold from C$3.50 to C$4.00 and gave the stock a “buy” rating in a report on Tuesday, January 30th. National Bank Financial reaffirmed an “outperform overweight” rating on shares of OceanaGold in a report on Monday, April 8th. Canaccord Genuity Group raised their price objective on shares of OceanaGold from C$4.00 to C$4.25 in a report on Tuesday. Finally, Jefferies Financial Group raised their price objective on shares of OceanaGold from C$3.50 to C$4.00 and gave the stock a “buy” rating in a report on Monday. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, OceanaGold currently has an average rating of “Buy” and a consensus price target of C$4.08.

OceanaGold Trading Down 0.7 %

Shares of OceanaGold stock opened at C$3.03 on Wednesday. OceanaGold has a fifty-two week low of C$2.08 and a fifty-two week high of C$3.50. The firm has a fifty day moving average of C$2.86. The company has a market cap of C$2.14 billion, a P/E ratio of 18.94 and a beta of 1.50.

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 analysts’ consensus estimates of C$0.02 by C($0.01). OceanaGold had a net margin of 8.10% and a return on equity of 4.88%. The company had revenue of C$363.94 million during the quarter.

OceanaGold Announces Dividend

The company also recently announced a Semi-Annual dividend, which will be paid on Friday, April 26th. Investors of record on Thursday, March 7th will be given a dividend of $0.013 per share. The ex-dividend date of this dividend is Wednesday, March 6th. OceanaGold’s dividend payout ratio (DPR) is currently 18.75%.

Insider Buying and Selling

In other news, Director Paul Benson bought 44,400 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The stock was acquired at an average price of C$2.25 per share, for a total transaction of C$99,678.00. 0.14% of the stock is currently owned by corporate insiders.

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.