OceanaGold (TSE:OGC) Price Target Lowered to C$4.50 at CIBC

OceanaGold (TSE:OGC) had its price objective reduced by investment analysts at CIBC from C$5.25 to C$4.50 in a research note issued on Thursday,BayStreet.CA reports. CIBC’s target price indicates a potential upside of 14.21% from the company’s previous close.

Several other brokerages also recently commented on OGC. Scotiabank raised their target price on OceanaGold from C$4.25 to C$4.75 in a report on Monday, August 19th. Royal Bank of Canada increased their price target on OceanaGold from C$5.00 to C$5.50 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. Desjardins increased their price objective on shares of OceanaGold from C$4.90 to C$5.50 and gave the stock a “buy” rating in a report on Monday, July 22nd. Canaccord Genuity Group boosted their price target on shares of OceanaGold from C$4.50 to C$5.50 and gave the stock a “strong-buy” rating in a research report on Tuesday, July 23rd. Finally, National Bankshares dropped their price target on OceanaGold from C$6.00 to C$5.50 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of C$4.80.

OceanaGold Trading Down 0.8 %

Shares of OceanaGold stock opened at C$3.94 on Thursday. The business’s fifty day moving average price is C$3.81 and its 200 day moving average price is C$3.47. OceanaGold has a twelve month low of C$2.08 and a twelve month high of C$4.41. The stock has a market capitalization of C$2.80 billion, a P/E ratio of 394.00 and a beta of 1.62.

OceanaGold (TSE:OGC) last announced its quarterly 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). OceanaGold had a net margin of 0.10% and a return on equity of 0.24%. The business had revenue of C$470.93 million for the quarter. As a group, sell-side analysts predict that OceanaGold will post 0.6283048 EPS for the current 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.