OceanaGold (TSE:OGC) Hits New 12-Month High – Should You Buy?

Shares of OceanaGold Co. (TSE:OGC) reached a new 52-week high on Monday . The stock traded as high as C$46.64 and last traded at C$46.02, with a volume of 37159 shares traded. The stock had previously closed at C$44.87.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Canaccord Genuity Group lifted their target price on shares of OceanaGold from C$25.00 to C$36.00 in a report on Thursday, October 2nd. Jefferies Financial Group increased their price objective on OceanaGold from C$43.00 to C$45.00 in a report on Monday, December 8th. Desjardins set a C$50.00 price target on OceanaGold and gave the stock a “buy” rating in a research report on Friday, November 28th. Finally, CIBC lifted their target price on OceanaGold from C$30.00 to C$50.00 in a research note on Friday, October 10th. One research analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the company’s stock. According to data from MarketBeat, OceanaGold presently has a consensus rating of “Buy” and an average price target of C$34.08.

OceanaGold Stock Up 2.5%

The company has a market cap of C$10.51 billion, a price-to-earnings ratio of 26.90 and a beta of 1.85. The firm has a 50 day moving average price of C$37.77 and a two-hundred day moving average price of C$30.13.

OceanaGold (TSE:OGC) last issued its earnings results on Wednesday, November 5th. The company reported C$0.40 EPS for the quarter. OceanaGold had a return on equity of 3.82% and a net margin of 5.86%.The company had revenue of C$624.50 million during the quarter. On average, equities analysts expect that OceanaGold Co. will post 0.6283048 earnings per share for the current year.

About OceanaGold

OceanaGold is a growing intermediate gold and copper producer committed to safely and responsibly maximizing the generation of Free Cash Flow from our operations and delivering strong returns for our shareholders. We have a portfolio of four operating mines: the Haile Gold Mine in the United States of America; Didipio Mine in the Philippines; and the Macraes and Waihi operations in New Zealand.