Brokerages Set OceanaGold Co. (TSE:OGC) Price Target at C$56.11

OceanaGold Co. (TSE:OGC) has been assigned a consensus rating of “Buy” from the five research firms that are currently covering the firm, Marketbeat reports. Five research analysts have rated the stock with a buy rating. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is C$56.11.

Several equities research analysts have recently commented on the company. Jefferies Financial Group boosted their price target on OceanaGold from C$45.00 to C$53.00 in a research note on Monday, January 19th. Royal Bank Of Canada raised their price objective on OceanaGold from C$52.00 to C$78.00 in a research note on Thursday, March 12th. Canadian Imperial Bank of Commerce boosted their target price on OceanaGold from C$66.00 to C$72.00 in a research report on Thursday, February 26th. TD upped their target price on OceanaGold from C$55.00 to C$56.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Desjardins raised 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.

OceanaGold Trading Down 3.9%

Shares of OGC opened at C$44.57 on Tuesday. The firm has a market capitalization of C$10.03 billion, a PE ratio of 16.57 and a beta of 2.46. The stock’s 50 day moving average is C$48.27 and its two-hundred day moving average is C$41.95. OceanaGold has a twelve month low of C$13.86 and a twelve month high of C$59.20.

OceanaGold (TSE:OGC) last announced its quarterly earnings results on Wednesday, February 18th. The company reported C$1.21 earnings per share (EPS) for the quarter. OceanaGold had a net margin of 33.30% and a return on equity of 30.82%. The business had revenue of C$870.81 million during the quarter. On average, sell-side analysts predict that OceanaGold will post 0.6283048 EPS for the current year.

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