OceanaGold (TSE:OGC) Reaches New 1-Year High on Analyst Upgrade

OceanaGold Co. (TSE:OGC)’s share price hit a new 52-week high during mid-day trading on Thursday after Scotiabank raised their price target on the stock from C$4.75 to C$6.00. The company traded as high as C$4.45 and last traded at C$4.45, with a volume of 2073172 shares. The stock had previously closed at C$4.23.

OGC has been the topic of a number of other research reports. National Bankshares cut their target price on shares of OceanaGold from C$6.00 to C$5.50 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. CIBC cut their price objective on OceanaGold from C$5.25 to C$4.50 in a report on Thursday, November 7th. Finally, Royal Bank of Canada upped their target price on OceanaGold from C$5.00 to C$5.50 and gave the stock an “outperform” rating in a report on Tuesday, September 10th. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, OceanaGold has an average rating of “Buy” and an average price target of C$4.93.

OceanaGold Stock Performance

The stock has a market cap of C$3.17 billion, a P/E ratio of 445.00 and a beta of 1.62. The firm’s fifty day simple moving average is C$3.90 and its 200-day simple moving average is C$3.53.

OceanaGold (TSE:OGC) last announced its earnings results on Wednesday, November 6th. The company reported C$0.12 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.14 by C($0.02). The firm had revenue of C$470.93 million for the quarter. OceanaGold had a return on equity of 0.24% and a net margin of 0.10%. Analysts predict that OceanaGold Co. will post 0.6283048 earnings per share for the current fiscal year.

OceanaGold Company Profile

OceanaGold Corporation, a gold and copper producer, engages in exploration, development, and operation of mineral properties in the United States, the Philippines, and New Zealand. It explores for gold, copper, and silver deposits. OceanaGold Corporation was founded in 2003 and is based in Vancouver, Canada.