Oceanagold (NYSE:OGC) Raised to Buy at Wall Street Zen

Oceanagold (NYSE:OGC) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Saturday, Wall Street Zen reports.

A number of other brokerages also recently issued reports on OGC. Jefferies Financial Group raised shares of Oceanagold to a “strong-buy” rating in a report on Tuesday, June 9th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Oceanagold in a research report on Friday, September 4th. Finally, Zacks Research raised shares of Oceanagold from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 8th. Two equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Buy”.

Oceanagold Trading Down 0.1%

Shares of NYSE:OGC opened at $27.08 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.63 and a quick ratio of 1.24. Oceanagold has a 12-month low of $20.18 and a 12-month high of $43.33. The firm has a 50 day moving average of $28.43. The firm has a market capitalization of $6.00 billion and a P/E ratio of 13.61.

Oceanagold (NYSE:OGC) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.05. The business had revenue of $647.30 million for the quarter. Oceanagold had a net margin of 35.14% and a return on equity of 36.44%. Equities research analysts predict that Oceanagold will post 4.17 earnings per share for the current fiscal year.

Institutional Trading of Oceanagold

A number of institutional investors and hedge funds have recently modified their holdings of the stock. The Manufacturers Life Insurance Company acquired a new position in shares of Oceanagold during the 2nd quarter worth about $15,332,000. Sequoia Financial Advisors LLC purchased a new position in Oceanagold in the 2nd quarter valued at about $603,000. Tidal Investments LLC acquired a new stake in Oceanagold in the 2nd quarter worth about $355,000. Engineers Gate Manager LP acquired a new stake in Oceanagold in the 2nd quarter worth about $337,000. Finally, Nykredit A S purchased a new stake in Oceanagold during the 2nd quarter worth approximately $125,000.

Oceanagold Company Profile

OceanaGold Corporation is a multinational mining company focused on the exploration, development and operation of gold and copper assets. Its primary products are gold and copper concentrates, which are produced through open-pit and underground mining operations.

The company operates the Haile Gold Mine in South Carolina, the Didipio gold-copper mine in the Philippines, and the Macraes and Waihi gold operations in New Zealand. It also maintains exploration and development activities intended to extend mine lives and identify additional mineral resources in the regions where it operates.

OceanaGold has a history dating to the 1990s and is headquartered in Vancouver, Canada.