Cormark Comments on OceanaGold Co.’s FY2024 Earnings (TSE:OGC)

OceanaGold Co. (TSE:OGC) – Analysts at Cormark increased their FY2024 earnings per share (EPS) estimates for OceanaGold in a research note issued on Thursday, May 2nd. Cormark analyst R. Gray now forecasts that the company will earn $0.34 per share for the year, up from their previous forecast of $0.31. The consensus estimate for OceanaGold’s current full-year earnings is $0.32 per share.

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 analysts’ consensus estimates of C$0.02 by C($0.01). OceanaGold had a net margin of 3.69% and a return on equity of 2.29%. The business had revenue of C$363.94 million during the quarter.

OGC has been the topic of several other research reports. BMO Capital Markets lowered their price objective on shares of OceanaGold from C$4.25 to C$3.75 in a research report on Thursday, February 22nd. National Bank Financial reiterated an “outperform overweight” rating on shares of OceanaGold in a research note on Monday, April 8th. National Bankshares reduced their price objective on OceanaGold from C$4.75 to C$4.50 in a report on Thursday. CIBC boosted their target price on OceanaGold from C$4.50 to C$5.00 and gave the company an “outperform” rating in a research note on Wednesday, February 7th. Finally, Canaccord Genuity Group increased their price target on OceanaGold from C$4.00 to C$4.25 in a research note on Tuesday, April 23rd. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, OceanaGold currently has a consensus rating of “Buy” and a consensus price target of C$4.17.

OceanaGold Stock Down 1.7 %

Shares of TSE:OGC opened at C$2.95 on Monday. The stock has a market cap of C$2.10 billion, a P/E ratio of 42.14 and a beta of 1.61. The business has a 50-day moving average of C$2.92. OceanaGold has a fifty-two week low of C$2.08 and a fifty-two week high of C$3.50.

OceanaGold Dividend Announcement

The business also recently announced a Semi-Annual dividend, which was paid on Friday, April 26th. Shareholders of record on Thursday, March 7th were paid a $0.013 dividend. The ex-dividend date of this dividend was Wednesday, March 6th. OceanaGold’s dividend payout ratio is currently 42.86%.

Insider Buying and Selling at OceanaGold

In other news, Director Paul Benson bought 44,400 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The shares were acquired at an average price of C$2.25 per share, with a total value of C$99,678.00. 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.