Cormark Has Bearish Estimate for OceanaGold FY2024 Earnings

OceanaGold Co. (TSE:OGC) – Equities research analysts at Cormark decreased their FY2024 earnings estimates for OceanaGold in a research note issued on Friday, November 8th. Cormark analyst R. Gray now forecasts that the company will earn $0.39 per share for the year, down from their previous forecast of $0.41. The consensus estimate for OceanaGold’s current full-year earnings is $0.63 per share. Cormark also issued estimates for OceanaGold’s Q4 2024 earnings at $0.19 EPS.

A number of other equities research analysts also recently issued reports on the company. National Bankshares reduced their price target on OceanaGold from C$6.00 to C$5.50 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Canaccord Genuity Group increased their target price on OceanaGold from C$4.50 to C$5.50 and gave the stock a “strong-buy” rating in a report on Tuesday, July 23rd. Desjardins increased their price objective on shares of OceanaGold from C$4.90 to C$5.50 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Scotiabank upped their price target on shares of OceanaGold from C$4.25 to C$4.75 in a report on Monday, August 19th. Finally, CIBC decreased their price objective on shares of OceanaGold from C$5.25 to C$4.50 in a research note on Thursday. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, OceanaGold currently has an average rating of “Buy” and a consensus target price of C$4.80.

OceanaGold Stock Down 0.8 %

Shares of TSE:OGC opened at C$3.94 on Monday. OceanaGold has a 12-month low of C$2.08 and a 12-month high of C$4.41. The company’s 50 day moving average price is C$3.82 and its two-hundred day moving average price is C$3.48. The firm has a market cap of C$2.80 billion, a PE ratio of 394.00 and a beta of 1.62.

OceanaGold (TSE:OGC) last issued its quarterly earnings data on Wednesday, November 6th. The company reported C$0.12 EPS for the quarter, missing analysts’ consensus estimates of C$0.14 by C($0.02). OceanaGold had a net margin of 0.10% and a return on equity of 0.24%. The firm had revenue of C$470.93 million during the quarter.

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.