Royal Bank of Canada Raises OceanaGold (TSE:OGC) Price Target to C$5.50

OceanaGold (TSE:OGC) had its price objective increased by Royal Bank of Canada from C$5.00 to C$5.50 in a research note published on Tuesday morning, BayStreet.CA reports. Royal Bank of Canada currently has an outperform rating on the stock.

Other analysts have also recently issued reports about the company. Jefferies Financial Group boosted their price objective on OceanaGold from C$4.00 to C$5.00 in a research report on Friday, July 12th. Canaccord Genuity Group boosted their price target on shares of OceanaGold from C$4.50 to C$5.50 and gave the stock a strong-buy rating in a report on Tuesday, July 23rd. CIBC increased their price objective on shares of OceanaGold from C$5.00 to C$5.25 in a report on Wednesday, July 10th. Scotiabank lifted their target price on shares of OceanaGold from C$4.25 to C$4.75 in a research report on Monday, August 19th. Finally, Desjardins upped their price target on shares of OceanaGold from C$4.90 to C$5.50 and gave the stock a buy rating in a research report on Monday, July 22nd. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of Buy and a consensus target price of C$4.83.

OceanaGold Stock Performance

Shares of TSE OGC opened at C$3.76 on Tuesday. The company has a market capitalization of C$2.67 billion, a PE ratio of 376.00 and a beta of 1.61. The company’s fifty day moving average price is C$3.51 and its 200 day moving average price is C$3.20. OceanaGold has a 1 year low of C$2.08 and a 1 year high of C$3.84.

OceanaGold (TSE:OGC) last posted its earnings results on Tuesday, July 30th. The company reported C$0.05 earnings per share (EPS) for the quarter, hitting the consensus estimate of C$0.05. OceanaGold had a net margin of 0.10% and a return on equity of 0.24%. The business had revenue of C$343.70 million for the quarter. On average, equities analysts expect that OceanaGold will post 0.5957821 EPS for the current year.

OceanaGold Increases Dividend

The firm also recently disclosed a Semi-Annual dividend, which will be paid on Friday, October 11th. Investors of record on Thursday, August 29th will be paid a dividend of $0.014 per share. The ex-dividend date of this dividend is Thursday, August 29th. This is a boost from OceanaGold’s previous Semi-Annual dividend of $0.01. OceanaGold’s dividend payout ratio is currently 300.00%.

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.