OceanaGold Co. (TSE:OGC) Receives Average Rating of “Buy” from Brokerages

Shares of OceanaGold Co. (TSE:OGC) have earned a consensus rating of “Buy” from the eight analysts that are covering the company, MarketBeat.com reports. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is C$4.83.

OGC has been the topic of a number of recent research reports. Scotiabank boosted their price target on shares of OceanaGold from C$4.25 to C$4.75 in a research report on Monday, August 19th. Jefferies Financial Group boosted their price target on shares of OceanaGold from C$4.00 to C$5.00 in a research report on Friday, July 12th. Desjardins boosted 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. 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 research report on Tuesday, July 23rd. Finally, CIBC boosted their target price on shares of OceanaGold from C$5.00 to C$5.25 in a report on Wednesday, July 10th.

OceanaGold Stock Up 4.1 %

OGC stock opened at C$4.27 on Monday. The stock has a market capitalization of C$3.04 billion, a P/E ratio of 427.00 and a beta of 1.62. The firm has a 50-day simple moving average of C$3.66 and a 200-day simple moving average of C$3.40. OceanaGold has a 52 week low of C$2.08 and a 52 week high of C$4.30.

OceanaGold (TSE:OGC) last posted its quarterly earnings results on Tuesday, July 30th. The company reported C$0.05 earnings per share for the quarter, hitting analysts’ consensus estimates of C$0.05. The firm had revenue of C$343.70 million for the quarter. OceanaGold had a net margin of 0.10% and a return on equity of 0.24%. On average, analysts expect that OceanaGold will post 0.6283048 earnings per share for the current year.

OceanaGold Increases Dividend

The company also recently announced a Semi-Annual dividend, which was paid on Friday, October 11th. Shareholders of record on Thursday, August 29th were issued a $0.014 dividend. This is a positive change from OceanaGold’s previous Semi-Annual dividend of $0.01. The ex-dividend date of this dividend was Thursday, August 29th. OceanaGold’s payout ratio is presently 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.