OceanaGold (TSE:OGC) Sets New 52-Week High – Time to Buy?

Shares of OceanaGold Co. (TSE:OGC) hit a new 52-week high during trading on Friday . The stock traded as high as C$4.80 and last traded at C$4.71, with a volume of 506978 shares changing hands. The stock had previously closed at C$4.64.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. TD Securities cut shares of OceanaGold from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 27th. Scotiabank boosted their target price on OceanaGold from C$6.00 to C$6.25 in a research note on Wednesday, January 15th. National Bank Financial raised OceanaGold to a “strong-buy” rating in a research report on Friday, March 21st. CIBC cut their price objective on OceanaGold from C$6.00 to C$5.75 in a research report on Friday, December 13th. Finally, BMO Capital Markets decreased their target price on OceanaGold from C$6.25 to C$5.75 in a research report on Thursday, February 20th. One investment analyst has rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of C$5.58.

OceanaGold Stock Performance

The firm has a market capitalization of C$2.34 billion, a P/E ratio of 38.28 and a beta of 1.62. The stock has a 50 day moving average of C$4.24 and a 200-day moving average of C$4.07.

Insider Activity

In related news, Senior Officer Liang Tang sold 50,000 shares of the stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of C$4.38, for a total transaction of C$219,000.00. Insiders own 0.15% of the company’s stock.

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.