OceanaGold (TSE:OGC) Reaches New 1-Year High After Analyst Upgrade

OceanaGold Co. (TSE:OGC) reached a new 52-week high on Monday after CIBC raised their price target on the stock from C$4.50 to C$6.00. The stock traded as high as C$4.53 and last traded at C$4.42, with a volume of 113357 shares. The stock had previously closed at C$4.34.

Other research analysts have also recently issued reports about the company. Scotiabank lifted their price target on OceanaGold from C$4.75 to C$6.00 in a report on Thursday, November 21st. National Bankshares reduced their target price on shares of OceanaGold from C$6.00 to C$5.50 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Finally, Royal Bank of Canada raised their price target on shares of OceanaGold from C$5.00 to C$5.50 and gave the company an “outperform” rating in a report on Tuesday, September 10th. Five research 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 stock presently has a consensus rating of “Buy” and a consensus price target of C$5.08.

OceanaGold Price Performance

The stock’s 50-day moving average price is C$4.01 and its 200-day moving average price is C$3.58. The company has a market cap of C$3.18 billion, a P/E ratio of 447.00 and a beta of 1.62.

OceanaGold (TSE:OGC) last posted 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). 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 during the quarter. As a group, analysts expect that OceanaGold Co. will post 0.6283048 EPS for the current fiscal year.

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.