OceanaGold Co. (TSE:OGC) to Post Q3 2024 Earnings of $0.17 Per Share, Cormark Forecasts

OceanaGold Co. (TSE:OGC) – Investment analysts at Cormark upped their Q3 2024 earnings per share estimates for OceanaGold in a research report issued on Thursday, August 1st. Cormark analyst R. Gray now expects that the company will post earnings of $0.17 per share for the quarter, up from their previous estimate of $0.11. The consensus estimate for OceanaGold’s current full-year earnings is $0.31 per share. Cormark also issued estimates for OceanaGold’s Q4 2024 earnings at $0.18 EPS, FY2024 earnings at $0.42 EPS, FY2025 earnings at $0.68 EPS and FY2026 earnings at $0.72 EPS.

OGC has been the topic of a number of other research reports. Canaccord Genuity Group boosted their target price on shares of OceanaGold from C$4.50 to C$5.50 and gave the stock a “strong-buy” rating in a research note on Tuesday, July 23rd. National Bankshares upped their target price on OceanaGold from C$4.50 to C$5.00 and gave the stock an “outperform” rating in a report on Wednesday, July 17th. Raymond James lifted their price target on OceanaGold from C$4.50 to C$5.00 in a research note on Tuesday, April 23rd. CIBC boosted their price target on OceanaGold from C$5.00 to C$5.25 in a report on Wednesday, July 10th. Finally, Scotiabank raised their price objective on shares of OceanaGold from C$4.00 to C$4.25 in a report on Thursday, May 23rd. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of C$4.69.

OceanaGold Price Performance

OGC stock opened at C$3.23 on Monday. The stock has a market cap of C$2.30 billion, a price-to-earnings ratio of 46.14 and a beta of 1.61. The company has a 50 day simple moving average of C$3.35 and a 200 day simple moving average of C$3.06. OceanaGold has a 1 year low of C$2.08 and a 1 year high of C$3.84.

OceanaGold Increases Dividend

The company also recently announced a Semi-Annual dividend, which will be paid on Friday, October 11th. Shareholders of record on Thursday, August 29th will be given a dividend of $0.014 per share. The ex-dividend date is Thursday, August 29th. This is an increase from OceanaGold’s previous Semi-Annual dividend of $0.01. OceanaGold’s dividend payout ratio is currently 42.86%.

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.