OceanaGold (TSE:OGC) Hits New 12-Month High on Analyst Upgrade

OceanaGold Co. (TSE:OGC)’s share price hit a new 52-week high during mid-day trading on Monday after Scotiabank raised their price target on the stock from C$44.00 to C$65.00. The stock traded as high as C$52.70 and last traded at C$52.26, with a volume of 68382 shares traded. The stock had previously closed at C$50.59.

Several other research firms have also issued reports on OGC. Jefferies Financial Group lifted their target price on shares of OceanaGold from C$45.00 to C$53.00 in a report on Monday, January 19th. TD Securities lifted their price objective on OceanaGold from C$38.00 to C$56.00 in a research note on Thursday, January 22nd. Desjardins set a C$50.00 target price on OceanaGold and gave the stock a “buy” rating in a report on Friday, November 28th. CIBC increased their target price on OceanaGold from C$30.00 to C$50.00 in a research note on Friday, October 10th. Finally, Canaccord Genuity Group lifted their price target on OceanaGold from C$25.00 to C$36.00 in a research report on Thursday, October 2nd. One investment analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of C$42.81.

OceanaGold Stock Performance

The business’s fifty day moving average price is C$39.50 and its 200-day moving average price is C$31.39. The stock has a market cap of C$11.85 billion, a PE ratio of 30.35 and a beta of 1.85.

OceanaGold (TSE:OGC) last released its quarterly earnings data on Wednesday, November 5th. The company reported C$0.40 earnings per share for the quarter. The firm had revenue of C$624.50 million during the quarter. OceanaGold had a net margin of 5.86% and a return on equity of 3.82%. Analysts forecast that OceanaGold Co. will post 0.6283048 earnings per share for the current fiscal year.

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.