FY2024 EPS Estimates for OceanaGold Co. (TSE:OGC) Increased by Analyst

OceanaGold Co. (TSE:OGC) – Analysts at Desjardins boosted their FY2024 earnings estimates for shares of OceanaGold in a report issued on Wednesday, July 31st. Desjardins analyst J. Sclodnick now expects that the company will earn $0.28 per share for the year, up from their previous estimate of $0.22. Desjardins currently has a “Buy” rating and a $5.50 target price on the stock. The consensus estimate for OceanaGold’s current full-year earnings is $0.31 per share.

Several other research firms have also commented on OGC. Jefferies Financial Group lifted their price target on OceanaGold from C$4.00 to C$5.00 in a research report on Friday, July 12th. Raymond James upped their price target on shares of OceanaGold from C$4.50 to C$5.00 in a research report on Tuesday, April 23rd. Scotiabank raised their price objective on shares of OceanaGold from C$4.00 to C$4.25 in a research report on Thursday, May 23rd. CIBC upped their target price on shares of OceanaGold from C$5.00 to C$5.25 in a report on Wednesday, July 10th. Finally, Royal Bank of Canada upgraded shares of OceanaGold to a “moderate buy” rating in a research note on Wednesday, June 12th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of C$4.69.

OceanaGold Stock Performance

OceanaGold stock opened at C$3.40 on Friday. The company has a market capitalization of C$2.42 billion, a P/E ratio of 48.57 and a beta of 1.61. OceanaGold has a fifty-two week low of C$2.08 and a fifty-two week high of C$3.84. The stock has a 50-day simple moving average of C$3.34 and a 200-day simple moving average of C$3.03.

OceanaGold (TSE:OGC) last issued its quarterly earnings data on Tuesday, April 30th. The company reported C$0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.02 by C($0.01). OceanaGold had a return on equity of 2.29% and a net margin of 3.69%. The firm had revenue of C$364.40 million for the quarter.

OceanaGold Increases Dividend

The firm also recently announced a Semi-Annual dividend, which will be paid on Friday, October 11th. Stockholders of record on Thursday, August 29th will be paid a dividend of $0.014 per share. This is an increase from OceanaGold’s previous Semi-Annual dividend of $0.01. The ex-dividend date of this dividend is Thursday, August 29th. OceanaGold’s dividend payout ratio is 42.86%.

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.