OceanaGold (TSE:OGC) Hits New 12-Month High – What’s Next?

OceanaGold Co. (TSE:OGC)’s share price hit a new 52-week high on Monday . The company traded as high as C$4.79 and last traded at C$4.76, with a volume of 249597 shares. The stock had previously closed at C$4.69.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on OGC shares. National Bankshares lowered their price target on OceanaGold from C$6.00 to C$5.50 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. TD Securities upgraded OceanaGold to a “strong-buy” rating in a research note on Tuesday, February 4th. CIBC dropped their target price on OceanaGold from C$6.00 to C$5.75 in a report on Friday, December 13th. Scotiabank upped their price target on OceanaGold from C$6.00 to C$6.25 in a report on Wednesday, January 15th. Finally, Royal Bank of Canada increased their price objective on shares of OceanaGold from C$5.50 to C$6.00 in a research report on Friday, December 6th. Four research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of C$5.13.

OceanaGold Price Performance

The business has a fifty day moving average of C$4.18 and a 200 day moving average of C$3.92. The stock has a market cap of C$3.24 billion, a PE ratio of 455.00 and a beta of 1.62.

About OceanaGold

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.