OceanaGold (TSE:OGC) Reaches New 1-Year High Following Analyst Upgrade

OceanaGold Co. (TSE:OGC) reached a new 52-week high during trading on Thursday after Jefferies Financial Group raised their price target on the stock from C$4.00 to C$5.00. The stock traded as high as C$3.55 and last traded at C$3.55, with a volume of 53120 shares. The stock had previously closed at C$3.44.

Several other analysts also recently commented on the stock. National Bankshares reduced their price target on shares of OceanaGold from C$4.75 to C$4.50 in a research report on Thursday, May 2nd. CIBC upped their price target on shares of OceanaGold from C$5.00 to C$5.25 in a research report on Wednesday. Scotiabank upped their price target on shares of OceanaGold from C$4.00 to C$4.25 in a research report on Thursday, May 23rd. National Bank Financial reiterated an “outperform overweight” rating on shares of OceanaGold in a research report on Monday, April 8th. Finally, Desjardins upgraded shares of OceanaGold to a “moderate buy” rating in a research report on Friday, May 10th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of C$4.33.

OceanaGold Stock Performance

The stock’s fifty day moving average price is C$3.21 and its 200-day moving average price is C$2.93. The firm has a market cap of C$2.65 billion, a PE ratio of 53.29 and a beta of 1.61.

OceanaGold (TSE:OGC) last issued its quarterly earnings data on Tuesday, April 30th. The company reported C$0.01 EPS for the quarter, missing analysts’ consensus estimates of C$0.02 by C($0.01). OceanaGold had a net margin of 3.69% and a return on equity of 2.29%. The business had revenue of C$364.40 million during the quarter. Sell-side analysts forecast that OceanaGold Co. will post 0.3147257 earnings per share for the current fiscal year.

OceanaGold Company Profile

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.