OceanaGold Co. (TSE:OGC) Given Consensus Rating of “Buy” by Analysts

OceanaGold Co. (TSE:OGC) has earned a consensus recommendation of “Buy” from the five analysts that are covering the stock, Marketbeat.com reports. Four equities research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is C$50.63.

Several research firms have commented on OGC. Jefferies Financial Group upped their price objective on shares of OceanaGold from C$45.00 to C$53.00 in a report on Monday, January 19th. Scotiabank boosted their price objective on shares of OceanaGold from C$44.00 to C$65.00 in a report on Monday, January 26th. Canadian Imperial Bank of Commerce boosted their target price on OceanaGold from C$66.00 to C$72.00 in a research note on Thursday, February 26th. TD Securities increased their price objective on OceanaGold from C$38.00 to C$56.00 in a research note on Thursday, January 22nd. Finally, Desjardins raised their target price on shares of OceanaGold from C$63.00 to C$65.00 and gave the stock a “buy” rating in a report on Friday, February 20th.

OceanaGold Stock Up 1.7%

Shares of TSE:OGC opened at C$52.11 on Friday. OceanaGold has a twelve month low of C$10.86 and a twelve month high of C$59.20. The firm has a market capitalization of C$11.73 billion, a price-to-earnings ratio of 19.37 and a beta of 2.12. The stock’s 50 day moving average is C$48.43 and its 200-day moving average is C$37.69.

OceanaGold (TSE:OGC) last issued its quarterly earnings data on Wednesday, February 18th. The company reported C$1.21 earnings per share for the quarter. The business had revenue of C$870.81 million for the quarter. OceanaGold had a return on equity of 30.82% and a net margin of 33.30%. Equities research analysts anticipate that OceanaGold will post 0.6283048 earnings per share for the current fiscal year.

OceanaGold announced that its Board of Directors has initiated a share repurchase program on Wednesday, February 18th that permits the company to repurchase $350.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 2.9% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

OceanaGold Company Profile

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.