OceanaGold (TSE:OGC) Shares Up 1.7% – Here’s What Happened

OceanaGold Co. (TSE:OGC) shot up 1.7% during trading on Friday . The company traded as high as C$6.14 and last traded at C$6.00. 2,042,038 shares changed hands during trading, a decline of 7% from the average session volume of 2,203,350 shares. The stock had previously closed at C$5.90.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on OGC shares. BMO Capital Markets lowered their price target on OceanaGold from C$6.25 to C$5.75 in a research report on Thursday, February 20th. Raymond James raised their price target on OceanaGold from C$5.50 to C$6.50 in a research report on Friday, April 4th. TD Securities lowered OceanaGold from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 27th. Finally, National Bank Financial upgraded OceanaGold to a “strong-buy” rating in a research note on Friday, March 21st. One research analyst has rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of C$5.75.

OceanaGold Trading Up 1.7%

The business has a 50 day moving average of C$5.02 and a 200-day moving average of C$4.44. The stock has a market cap of C$2.98 billion, a PE ratio of 48.66 and a beta of 1.62.

Insider Transactions at OceanaGold

In other OceanaGold news, Director Ian Macnevin Reid acquired 26,000 shares of the stock in a transaction dated Thursday, May 15th. The stock was acquired at an average price of C$5.63 per share, with a total value of C$146,380.00. Also, Senior Officer Liang Tang sold 50,000 shares of the business’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of C$4.38, for a total value of C$219,000.00. Insiders own 0.15% 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.