OceanaGold (TSE:OGC) Price Target Raised to C$4.25

OceanaGold (TSE:OGC) had its price objective raised by Scotiabank from C$4.00 to C$4.25 in a research report sent to investors on Thursday morning, BayStreet.CA reports.

A number of other equities research analysts also recently weighed in on the company. Desjardins upgraded OceanaGold to a moderate buy rating in a report on Friday, May 10th. Jefferies Financial Group upped their target price on OceanaGold from C$3.50 to C$4.00 and gave the stock a buy rating in a research report on Monday, April 22nd. Raymond James raised their price objective on shares of OceanaGold from C$4.50 to C$5.00 in a research report on Tuesday, April 23rd. Canaccord Genuity Group raised their price objective on OceanaGold from C$4.00 to C$4.25 in a research note on Tuesday, April 23rd. Finally, CIBC raised their target price on shares of OceanaGold from C$4.50 to C$5.00 and gave the stock an outperform rating in a report on Wednesday, February 7th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of Buy and an average price target of C$4.19.

OceanaGold Price Performance

Shares of OGC stock opened at C$3.18 on Thursday. The company’s fifty day moving average price is C$3.10 and its two-hundred day moving average price is C$2.73. The firm has a market capitalization of C$2.26 billion, a P/E ratio of 45.43 and a beta of 1.61. OceanaGold has a 12 month low of C$2.08 and a 12 month high of C$3.50.

OceanaGold (TSE:OGC) last released its earnings results on Tuesday, April 30th. The company reported C$0.01 EPS for the quarter, missing the consensus estimate of C$0.02 by C($0.01). The business had revenue of C$364.40 million for the quarter. OceanaGold had a net margin of 3.69% and a return on equity of 2.29%. On average, sell-side analysts anticipate that OceanaGold will post 0.3147257 EPS for the current year.

Insider Activity

In other OceanaGold news, Director Paul Benson bought 44,400 shares of the stock in a transaction on Tuesday, February 27th. The shares were purchased at an average cost of C$2.25 per share, with a total value of C$99,678.00. 0.15% of the stock is owned by corporate insiders.

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.