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

Shares of OceanaGold Co. (TSE:OGC) have been assigned a consensus rating of “Buy” from the five ratings firms that are currently covering the firm, MarketBeat reports. Five analysts have rated the stock with a buy recommendation. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is C$56.11.

Several equities research analysts recently commented on the company. TD increased their price objective on OceanaGold from C$55.00 to C$56.00 and gave the company a “buy” rating in a research report on Tuesday, April 21st. Desjardins raised their target price on OceanaGold from C$63.00 to C$65.00 and gave the stock a “buy” rating in a research report on Friday, February 20th. Royal Bank Of Canada raised their target price on OceanaGold from C$52.00 to C$78.00 in a research report on Thursday, March 12th. Finally, Canadian Imperial Bank of Commerce raised their target price on OceanaGold from C$66.00 to C$72.00 in a research report on Thursday, February 26th.

Insider Transactions at OceanaGold

In other OceanaGold news, insider Brian Douglas Martin sold 30,000 shares of the firm’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of C$40.47, for a total value of C$1,214,100.00. Following the transaction, the insider directly owned 19,363 shares of the company’s stock, valued at approximately C$783,620.61. This trade represents a 60.77% decrease in their ownership of the stock. Insiders own 0.15% of the company’s stock.

OceanaGold Price Performance

OceanaGold stock opened at C$34.93 on Wednesday. OceanaGold has a one year low of C$18.45 and a one year high of C$59.20. The stock has a market capitalization of C$7.82 billion, a PE ratio of 10.65 and a beta of 2.58. The business’s fifty day moving average is C$43.07 and its 200 day moving average is C$43.96.

OceanaGold (TSE:OGC) last released its quarterly earnings data on Wednesday, May 6th. The company reported C$1.40 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. As a group, sell-side analysts expect that OceanaGold will post 0.6283048 EPS for the current fiscal year.

OceanaGold declared that its Board of Directors has initiated a stock repurchase program on Wednesday, February 18th that permits the company to repurchase $350.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 2.9% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board believes its stock is 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.