Q2 2024 EPS Estimates for OceanaGold Co. Lifted by Analyst (TSE:OGC)

OceanaGold Co. (TSE:OGC) – Equities researchers at Raymond James increased their Q2 2024 earnings estimates for OceanaGold in a research report issued to clients and investors on Tuesday, April 23rd. Raymond James analyst F. Hamed now expects that the company will post earnings per share of $0.10 for the quarter, up from their previous estimate of $0.04. The consensus estimate for OceanaGold’s current full-year earnings is $0.30 per share. Raymond James also issued estimates for OceanaGold’s FY2024 earnings at $0.44 EPS.

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

Other analysts also recently issued research reports about the company. Cormark cut their target price on OceanaGold from C$3.25 to C$3.00 in a research note on Monday, February 26th. National Bankshares reduced their price objective on shares of OceanaGold from C$4.00 to C$3.75 in a report on Friday, February 23rd. Desjardins boosted their price target on shares of OceanaGold from C$3.50 to C$4.00 and gave the stock a “buy” rating in a research report on Tuesday, January 30th. National Bank Financial reiterated an “outperform overweight” rating on shares of OceanaGold in a report on Monday, April 8th. Finally, CIBC boosted their target price on OceanaGold from C$4.50 to C$5.00 and gave the stock an “outperform” rating in a report on Wednesday, February 7th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, OceanaGold has an average rating of “Buy” and a consensus price target of C$4.08.

OceanaGold Stock Performance

Shares of OGC opened at C$3.20 on Friday. The stock’s fifty day moving average is C$2.88. The company has a market cap of C$2.26 billion, a P/E ratio of 20.00 and a beta of 1.50. OceanaGold has a 12 month low of C$2.08 and a 12 month high of C$3.50.

OceanaGold Announces Dividend

The firm also recently announced a Semi-Annual dividend, which was paid on Friday, April 26th. Shareholders of record on Thursday, March 7th were paid a dividend of $0.013 per share. The ex-dividend date was Wednesday, March 6th. OceanaGold’s dividend payout ratio (DPR) is presently 18.75%.

Insider Activity

In related news, Director Paul Benson purchased 44,400 shares of the stock in a transaction dated Tuesday, February 27th. The shares were acquired at an average cost of C$2.25 per share, for a total transaction of C$99,678.00. 0.14% of the stock is owned by corporate insiders.

About OceanaGold

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.