CIBC Issues Pessimistic Forecast for OceanaGold (TSE:OGC) Stock Price

OceanaGold (TSE:OGC) had its price target dropped by equities researchers at CIBC from C$6.00 to C$5.75 in a research note issued to investors on Friday,BayStreet.CA reports. CIBC’s target price would indicate a potential upside of 40.93% from the stock’s current price.

A number of other analysts also recently weighed in on OGC. Royal Bank of Canada increased their target price on shares of OceanaGold from C$5.50 to C$6.00 in a research report on Friday, December 6th. National Bankshares decreased 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. Finally, Scotiabank boosted their target price on shares of OceanaGold from C$4.75 to C$6.00 in a report on Thursday, November 21st. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of C$5.10.

OceanaGold Price Performance

OGC opened at C$4.08 on Friday. OceanaGold has a fifty-two week low of C$2.08 and a fifty-two week high of C$4.57. The company’s 50 day moving average price is C$4.08 and its two-hundred day moving average price is C$3.65. The firm has a market capitalization of C$2.90 billion, a price-to-earnings ratio of 408.00 and a beta of 1.62.

OceanaGold (TSE:OGC) last released its quarterly earnings results on Wednesday, November 6th. The company reported C$0.12 EPS 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 company had revenue of C$470.93 million during the quarter. As a group, equities research 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.