OceanaGold (TSE:OGC) Price Target Raised to C$72.00

OceanaGold (TSE:OGC) had its target price raised by Canadian Imperial Bank of Commerce from C$66.00 to C$72.00 in a research report released on Thursday,BayStreet.CA reports.

OGC has been the topic of several other research reports. TD Securities lifted their target price on OceanaGold from C$38.00 to C$56.00 in a research note on Thursday, January 22nd. Jefferies Financial Group increased their target price on shares of OceanaGold from C$45.00 to C$53.00 in a research report on Monday, January 19th. Scotiabank boosted their price target on shares of OceanaGold from C$44.00 to C$65.00 in a research report on Monday, January 26th. Finally, Desjardins increased their price objective on shares of OceanaGold from C$63.00 to C$65.00 and gave the company a “buy” rating in a report on Friday, February 20th. One investment analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of C$50.63.

OceanaGold Trading Up 0.8%

OceanaGold stock opened at C$58.01 on Thursday. OceanaGold has a 52 week low of C$10.86 and a 52 week high of C$58.36. The stock has a market cap of C$13.25 billion, a P/E ratio of 33.92 and a beta of 1.94. The stock has a 50 day moving average of C$47.04 and a 200-day moving average of C$36.62.

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

OceanaGold announced that its board has initiated a share repurchase program on Wednesday, February 18th that authorizes the company to repurchase $350.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 2.9% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors 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.