Oceanagold (NYSE:OGC) Rating Lowered to “Hold” at Wall Street Zen

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

Other research analysts have also issued reports about the stock. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Oceanagold in a research note on Friday. Zacks Research upgraded shares of Oceanagold from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 8th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Oceanagold in a research note on Friday, September 4th. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy”.

Oceanagold Stock Performance

Shares of OGC stock opened at $27.02 on Friday. Oceanagold has a fifty-two week low of $20.18 and a fifty-two week high of $43.33. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.24 and a current ratio of 1.63. The business has a 50 day simple moving average of $28.72. The company has a market capitalization of $5.98 billion and a P/E ratio of 13.58.

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

Institutional Investors Weigh In On Oceanagold

A number of hedge funds have recently added to or reduced their stakes in the company. Nykredit A S bought a new stake in shares of Oceanagold during the second quarter valued at approximately $125,000. Vontobel Holding Ltd. acquired a new position in shares of Oceanagold during the third quarter worth approximately $311,000. Engineers Gate Manager LP acquired a new position in shares of Oceanagold during the second quarter worth approximately $337,000. Tidal Investments LLC bought a new position in shares of Oceanagold in the 2nd quarter worth $355,000. Finally, TD Waterhouse Canada Inc. bought a new position in shares of Oceanagold in the 2nd quarter worth $584,000.

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.