Scotiabank Forecasts Strong Price Appreciation for OceanaGold (TSE:OGC) Stock

OceanaGold (TSE:OGC) had its target price lifted by Scotiabank from C$4.75 to C$6.00 in a research report released on Thursday morning,BayStreet.CA reports.

Several other research firms also recently commented on OGC. National Bankshares decreased their price objective 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. Royal Bank of Canada lifted their price target 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 dropped their price objective on OceanaGold from C$5.25 to C$4.50 in a research note on Thursday, November 7th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, OceanaGold has an average rating of “Buy” and an average target price of C$4.93.

OceanaGold Price Performance

TSE:OGC opened at C$4.44 on Thursday. OceanaGold has a 1-year low of C$2.08 and a 1-year high of C$4.51. The business has a 50 day moving average of C$3.92 and a 200 day moving average of C$3.53. The company has a market capitalization of C$3.16 billion, a price-to-earnings ratio of 444.00 and a beta of 1.62.

OceanaGold (TSE:OGC) last announced its quarterly earnings data on Wednesday, November 6th. The company reported C$0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.14 by C($0.02). The business 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%. As a group, sell-side analysts anticipate 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.