Short Interest in OceanaGold Co. (OTCMKTS:OCANF) Rises By 50.2%

OceanaGold Co. (OTCMKTS:OCANF) saw a significant increase in short interest during the month of September. As of September 30th, there was short interest totaling 3,643,300 shares, an increase of 50.2% from the September 15th total of 2,426,000 shares. Based on an average trading volume of 53,200 shares, the days-to-cover ratio is presently 68.5 days. Based on an average trading volume of 53,200 shares, the days-to-cover ratio is presently 68.5 days.

Analysts Set New Price Targets

Several brokerages have recently commented on OCANF. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of OceanaGold in a research note on Friday, August 8th. Scotiabank reaffirmed an “outperform” rating on shares of OceanaGold in a research report on Thursday. CIBC reaffirmed an “outperform” rating on shares of OceanaGold in a research note on Tuesday, July 15th. Finally, Raymond James Financial reiterated an “outperform” rating on shares of OceanaGold in a research report on Friday, October 10th. Six investment analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has an average rating of “Buy”.

OceanaGold Stock Performance

OCANF opened at $23.00 on Friday. OceanaGold has a 52 week low of $7.32 and a 52 week high of $26.31. The business has a fifty day simple moving average of $20.56 and a 200-day simple moving average of $12.44.

OceanaGold Increases Dividend

The company also recently declared a dividend, which was paid on Friday, September 19th. Stockholders of record on Thursday, August 21st were given a dividend of $0.03 per share. This is an increase from OceanaGold’s previous dividend of $0.01. This represents a dividend yield of 71.0%. The ex-dividend date was Wednesday, August 20th.

About OceanaGold

OceanaGold is a growing intermediate gold and copper producer committed to safely and responsibly maximizing the generation of Free Cash Flow from our operations and delivering strong returns for our shareholders. We have a portfolio of four operating mines: the Haile Gold Mine in the United States of America; Didipio Mine in the Philippines; and the Macraes and Waihi operations in New Zealand.