OceanaGold (TSE:OGC) Reaches New 12-Month High Following Analyst Upgrade

OceanaGold Co. (TSE:OGC) reached a new 52-week high during mid-day trading on Monday after CIBC raised their price target on the stock from C$4.50 to C$6.00. The stock traded as high as C$4.53 and last traded at C$4.42, with a volume of 113357 shares traded. The stock had previously closed at C$4.34.

A number of other equities analysts have also recently commented on the company. Royal Bank of Canada boosted their price target on OceanaGold from C$5.00 to C$5.50 and gave the stock an “outperform” rating in a report on Tuesday, September 10th. Scotiabank increased their price target on OceanaGold from C$4.75 to C$6.00 in a research note on Thursday, November 21st. Finally, National Bankshares cut their price objective on OceanaGold from C$6.00 to C$5.50 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, OceanaGold currently has a consensus rating of “Buy” and an average price target of C$5.08.

OceanaGold Price Performance

The firm has a market capitalization of C$3.18 billion, a price-to-earnings ratio of 447.00 and a beta of 1.62. The stock has a fifty day moving average of C$4.01 and a two-hundred day moving average of C$3.58.

OceanaGold (TSE:OGC) last issued its quarterly earnings results on Wednesday, November 6th. The company reported C$0.12 earnings per share for the quarter, missing the consensus estimate of C$0.14 by C($0.02). The company had revenue of C$470.93 million during the quarter. OceanaGold had a net margin of 0.10% and a return on equity of 0.24%. On average, research analysts forecast that OceanaGold Co. will post 0.6283048 EPS for the current year.

OceanaGold Company Profile

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.