OceanaGold (TSE:OGC) Stock Price Expected to Rise, Desjardins Analyst Says

OceanaGold (TSE:OGC) had its target price boosted by investment analysts at Desjardins from C$63.00 to C$65.00 in a research report issued on Friday,BayStreet.CA reports. The firm presently has a “buy” rating on the stock. Desjardins’ target price would suggest a potential upside of 19.33% from the stock’s current price.

A number of other equities research analysts have also recently commented on the company. Canadian Imperial Bank of Commerce raised their target price on OceanaGold from C$50.00 to C$66.00 in a research report on Wednesday, February 4th. TD Securities increased their price target on OceanaGold from C$38.00 to C$56.00 in a research report on Thursday, January 22nd. Scotiabank boosted their price objective on OceanaGold from C$44.00 to C$65.00 in a research report on Monday, January 26th. Finally, Jefferies Financial Group upped their target price on OceanaGold from C$45.00 to C$53.00 in a research note on Monday, January 19th. One investment analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of C$49.88.

OceanaGold Stock Up 4.4%

Shares of OGC stock opened at C$54.47 on Friday. OceanaGold has a 52-week low of C$10.86 and a 52-week high of C$54.82. The stock has a market cap of C$12.44 billion, a PE ratio of 31.85 and a beta of 1.94. The business has a 50-day simple moving average of C$45.13 and a 200-day simple moving average of C$35.38.

OceanaGold (TSE:OGC) last posted its earnings results on Wednesday, February 18th. The company reported C$1.21 EPS for the quarter. OceanaGold had a return on equity of 3.82% and a net margin of 5.86%.The firm had revenue of C$870.81 million for the quarter. Sell-side analysts anticipate that OceanaGold will post 0.6283048 earnings per share for the current fiscal year.

OceanaGold declared that its Board of Directors has approved a share repurchase plan on Wednesday, February 18th that permits the company to buyback $350.00 million in shares. This buyback authorization permits the company to buy up to 2.9% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors 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.