FY2024 Earnings Estimate for OceanaGold Issued By Scotiabank

OceanaGold Co. (TSE:OGC) – Equities researchers at Scotiabank increased their FY2024 earnings estimates for OceanaGold in a note issued to investors on Wednesday, January 8th. Scotiabank analyst O. Habib now anticipates that the company will post earnings per share of $0.33 for the year, up from their prior estimate of $0.29. The consensus estimate for OceanaGold’s current full-year earnings is $0.63 per share.

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

A number of other brokerages have also recently issued reports on OGC. National Bankshares decreased their target price on 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. CIBC decreased their price objective on OceanaGold from C$6.00 to C$5.75 in a report on Friday, December 13th. Finally, Royal Bank of Canada lifted their target price on shares of OceanaGold from C$5.50 to C$6.00 in a report on Friday, December 6th. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, OceanaGold has an average rating of “Buy” and a consensus price target of C$5.10.

OceanaGold Stock Performance

Shares of OGC stock opened at C$4.13 on Friday. The stock’s 50-day moving average is C$4.10 and its two-hundred day moving average is C$3.76. OceanaGold has a 1 year low of C$2.08 and a 1 year high of C$4.57. The firm has a market cap of C$2.94 billion, a price-to-earnings ratio of 413.00 and a beta of 1.62.

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.