OceanaGold (TSE:OGC) Price Target Raised to C$56.00 at TD

OceanaGold (TSE:OGC) had its price target hoisted by TD from C$55.00 to C$56.00 in a report issued on Tuesday morning,BayStreet.CA reports. They currently have a buy rating on the stock.

A number of other equities analysts have also commented on OGC. Scotiabank lifted their price target on shares of OceanaGold from C$44.00 to C$65.00 in a report on Monday, January 26th. TD Securities raised their target price on OceanaGold from C$38.00 to C$56.00 in a research report on Thursday, January 22nd. Canadian Imperial Bank of Commerce lifted their target price on OceanaGold from C$66.00 to C$72.00 in a report on Thursday, February 26th. Desjardins upped their price target on OceanaGold from C$63.00 to C$65.00 and gave the company a “buy” rating in a research report on Friday, February 20th. Finally, Jefferies Financial Group increased their price target on OceanaGold from C$45.00 to C$53.00 in a research note on Monday, January 19th. Five 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$56.11.

OceanaGold Price Performance

Shares of TSE OGC opened at C$45.39 on Tuesday. The company has a 50 day simple moving average of C$48.49 and a 200 day simple moving average of C$41.90. OceanaGold has a 1 year low of C$13.86 and a 1 year high of C$59.20. The firm has a market cap of C$10.22 billion, a PE ratio of 16.87 and a beta of 2.46.

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

OceanaGold announced that its board has approved a share buyback plan on Wednesday, February 18th that permits the company to repurchase $350.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 2.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

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.