Oceanagold Corp. (NYSE:OGC) Stock Rated “Buy” by Sell-Side Analysts

Shares of Oceanagold Corp. (NYSE:OGC) have earned an average recommendation of “Buy” from the five analysts that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation, two have assigned a buy recommendation and two have assigned a strong buy recommendation to the company.

A number of brokerages have recently weighed in on OGC. Zacks Research raised shares of Oceanagold from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 8th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Oceanagold in a research note on Friday, September 4th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Oceanagold in a research report on Friday. Finally, Wall Street Zen upgraded shares of Oceanagold from a “hold” rating to a “buy” rating in a research report on Saturday, October 3rd.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in OGC. Ninety One UK Ltd bought a new stake in shares of Oceanagold during the 3rd quarter worth $63,288,000. The Manufacturers Life Insurance Company bought a new stake in Oceanagold during the 2nd quarter valued at approximately $15,332,000. Sequoia Financial Advisors LLC acquired a new stake in Oceanagold in the 2nd quarter valued at approximately $603,000. Tidal Investments LLC acquired a new stake in Oceanagold in the 2nd quarter valued at approximately $355,000. Finally, Engineers Gate Manager LP bought a new position in Oceanagold in the 2nd quarter worth approximately $337,000.

Oceanagold Trading Up 0.3%

OGC traded up $0.08 during trading hours on Friday, hitting $26.73. The company’s stock had a trading volume of 100,686 shares, compared to its average volume of 314,876. The business’s 50-day moving average is $28.74. The company has a quick ratio of 1.24, a current ratio of 1.63 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $5.92 billion and a price-to-earnings ratio of 13.47. Oceanagold has a fifty-two week low of $20.18 and a fifty-two week high of $43.33.

Oceanagold (NYSE:OGC) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.05. Oceanagold had a return on equity of 36.44% and a net margin of 35.14%. The company had revenue of $647.30 million during the quarter. Research analysts expect that Oceanagold will post 4.22 earnings per share for the current fiscal year.

Oceanagold Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 18th. Shareholders of record on Wednesday, August 19th were given a C$0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Wednesday, August 19th. Oceanagold’s dividend payout ratio is presently 18.09%.

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.