OceanaGold Co. (TSE:OGC) Given Average Rating of “Buy” by Analysts

OceanaGold Co. (TSE:OGC) has earned an average recommendation of “Buy” from the five research firms that are currently covering the company, MarketBeat reports. Five investment analysts have rated the stock with a buy recommendation. The average 12-month price objective among analysts that have issued a report on the stock in the last year is C$56.11.

Several research firms recently issued reports on OGC. TD Securities upped their price target on shares of OceanaGold from C$38.00 to C$56.00 in a report on Thursday, January 22nd. Scotiabank raised their price objective on shares of OceanaGold from C$44.00 to C$65.00 in a report on Monday, January 26th. Desjardins upped their target price on shares of OceanaGold from C$63.00 to C$65.00 and gave the company a “buy” rating in a research note on Friday, February 20th. Canadian Imperial Bank of Commerce increased their price target on shares of OceanaGold from C$66.00 to C$72.00 in a research report on Thursday, February 26th. Finally, TD lifted their price target on OceanaGold from C$55.00 to C$56.00 and gave the stock a “buy” rating in a research note on Tuesday, April 21st.

OceanaGold Trading Down 6.2%

TSE OGC traded down C$2.84 during mid-day trading on Friday, reaching C$43.07. 1,050,600 shares of the company’s stock traded hands, compared to its average volume of 866,407. OceanaGold has a 1-year low of C$16.53 and a 1-year high of C$59.20. The company has a fifty day simple moving average of C$45.14 and a 200-day simple moving average of C$43.02. The company has a market cap of C$9.64 billion, a price-to-earnings ratio of 13.13 and a beta of 2.54.

OceanaGold (TSE:OGC) last announced its earnings results on Wednesday, May 6th. The company reported C$1.40 earnings per share (EPS) for the quarter. OceanaGold had a return on equity of 34.87% and a net margin of 33.78%.The company had revenue of C$993.37 million for the quarter. Equities research analysts forecast that OceanaGold will post 0.6283048 earnings per share for the current fiscal year.

OceanaGold announced that its board has authorized a stock repurchase program on Wednesday, February 18th that allows the company to buyback $350.00 million in outstanding shares. This buyback authorization allows the company to buy up to 2.9% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

About OceanaGold

OceanaGold is a global 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 wholly-owned Haile Gold Mine in the United States of America ; the wholly-owned Macraes and Waihi operations in New Zealand ; and the 80%-owned Didipio Mine in the Philippines.