Royal Bank of Canada Issues Positive Forecast for OceanaGold (TSE:OGC) Stock Price

OceanaGold (TSE:OGC) had its target price lifted by research analysts at Royal Bank of Canada from C$7.00 to C$8.00 in a report issued on Tuesday,BayStreet.CA reports. Royal Bank of Canada’s price target suggests a potential upside of 27.39% from the stock’s current price.

A number of other research analysts have also recently commented on the company. TD Securities cut OceanaGold from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 27th. National Bank Financial upgraded OceanaGold to a “strong-buy” rating in a research note on Friday, March 21st. Raymond James increased their price objective on OceanaGold from C$5.50 to C$6.50 in a research note on Friday, April 4th. Finally, BMO Capital Markets reduced their price objective on OceanaGold from C$6.25 to C$5.75 in a research note on Thursday, February 20th. One research analyst has rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of C$5.97.

OceanaGold Trading Down 1.6%

OceanaGold stock traded down C$0.10 during mid-day trading on Tuesday, hitting C$6.28. The company’s stock had a trading volume of 339,155 shares, compared to its average volume of 2,154,392. The firm has a market capitalization of C$3.12 billion, a PE ratio of 50.93 and a beta of 1.62. OceanaGold has a 1 year low of C$2.95 and a 1 year high of C$6.51. The stock’s fifty day moving average is C$5.22 and its two-hundred day moving average is C$4.53.

Insiders Place Their Bets

In related news, Director Ian Macnevin Reid bought 26,000 shares of OceanaGold stock in a transaction that occurred on Thursday, May 15th. The shares were purchased at an average price of C$5.63 per share, with a total value of C$146,380.00. Also, Senior Officer Liang Tang sold 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of C$4.38, for a total value of C$219,000.00. 0.15% of the stock is currently owned by insiders.

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.