FY2024 Earnings Forecast for OceanaGold Issued By Cormark

OceanaGold Co. (TSE:OGC) – Research analysts at Cormark cut their FY2024 EPS estimates for shares of OceanaGold in a note issued to investors on Friday, November 8th. Cormark analyst R. Gray now anticipates that the company will post earnings of $0.39 per share for the year, down from their prior forecast of $0.41. The consensus estimate for OceanaGold’s current full-year earnings is $0.63 per share. Cormark also issued estimates for OceanaGold’s Q4 2024 earnings at $0.19 EPS.

OceanaGold (TSE:OGC) last issued its quarterly earnings results on Wednesday, November 6th. The company reported C$0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.14 by C($0.02). The company had revenue of C$470.93 million during the quarter. OceanaGold had a net margin of 0.10% and a return on equity of 0.24%.

OGC has been the subject of several other reports. National Bankshares lowered their price objective on shares of OceanaGold from C$6.00 to C$5.50 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Canaccord Genuity Group raised their target price on 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. Desjardins boosted their price target on shares of OceanaGold from C$4.90 to C$5.50 and gave the stock a “buy” rating in a research report on Monday, July 22nd. CIBC dropped their price objective on OceanaGold from C$5.25 to C$4.50 in a research note on Thursday, November 7th. Finally, Royal Bank of Canada increased their target price on shares of OceanaGold from C$5.00 to C$5.50 and gave the stock an “outperform” rating in a research note on Tuesday, September 10th. Six investment analysts have rated the stock with a buy rating and one has issued 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 Stock Down 0.8 %

OGC stock opened at C$3.80 on Monday. The business has a 50-day simple moving average of C$3.83 and a 200 day simple moving average of C$3.48. The company has a market cap of C$2.70 billion, a PE ratio of 383.00 and a beta of 1.62. OceanaGold has a 52 week low of C$2.08 and a 52 week high of C$4.41.

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.