OceanaGold (TSE:OGC) Reaches New 52-Week High at $4.18

Shares of OceanaGold Co. (TSE:OGC) hit a new 52-week high on Thursday . The company traded as high as C$4.18 and last traded at C$3.94, with a volume of 2354264 shares. The stock had previously closed at C$3.97.

Analyst Ratings Changes

Several brokerages recently commented on OGC. Canaccord Genuity Group increased their price objective on shares of OceanaGold from C$4.50 to C$5.50 and gave the company a “strong-buy” rating in a research report on Tuesday, July 23rd. Scotiabank raised their price target on shares of OceanaGold from C$4.25 to C$4.75 in a report on Monday, August 19th. Desjardins boosted their price objective on shares of OceanaGold from C$4.90 to C$5.50 and gave the company a “buy” rating in a report on Monday, July 22nd. Royal Bank of Canada raised their target price on OceanaGold from C$5.00 to C$5.50 and gave the stock an “outperform” rating in a research note on Tuesday, September 10th. Finally, CIBC lifted their price target on OceanaGold from C$5.00 to C$5.25 in a research report on Wednesday, July 10th. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, OceanaGold has a consensus rating of “Buy” and an average price target of C$4.83.

OceanaGold Price Performance

The firm’s fifty day simple moving average is C$3.54 and its 200 day simple moving average is C$3.24. The company has a market capitalization of C$2.80 billion, a PE ratio of 394.00 and a beta of 1.61.

OceanaGold (TSE:OGC) last issued its earnings results on Tuesday, July 30th. The company reported C$0.05 EPS for the quarter, hitting analysts’ consensus estimates of C$0.05. The firm had revenue of C$343.70 million for the quarter. OceanaGold had a return on equity of 0.24% and a net margin of 0.10%. On average, equities research analysts anticipate that OceanaGold Co. will post 0.5957821 EPS for the current fiscal year.

OceanaGold Increases Dividend

The business also recently disclosed a Semi-Annual dividend, which will be paid on Friday, October 11th. Shareholders of record on Thursday, August 29th will be given a $0.014 dividend. The ex-dividend date is Thursday, August 29th. This is a positive change from OceanaGold’s previous Semi-Annual dividend of $0.01. OceanaGold’s dividend payout ratio is currently 300.00%.

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.