OceanaGold Co. (OGC) to Post FY2017 Earnings of $0.44 Per Share, National Bank Financial Forecasts
OceanaGold Co. (TSE:OGC) – Equities researchers at National Bank Financial upped their FY2017 earnings per share (EPS) estimates for OceanaGold in a note issued to investors on Sunday. National Bank Financial analyst R. Ray now forecasts that the firm will post earnings of $0.44 per share for the year, up from their previous estimate of $0.42.
A number of other brokerages also recently issued reports on OGC. Barclays PLC began coverage on OceanaGold in a research report on Friday, July 8th. They set an “equal weight” rating and a C$6.00 price objective for the company. Scotiabank reiterated a “sector perform” rating and issued a C$6.25 target price on shares of OceanaGold in a report on Wednesday, September 7th. BMO Capital Markets reiterated a “market perform” rating and issued a C$6.00 target price on shares of OceanaGold in a report on Wednesday, September 7th. Finally, Raymond James Financial Inc. lifted their target price on OceanaGold from C$5.20 to C$6.00 in a report on Monday, June 27th. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of C$5.13.
OceanaGold (TSE:OGC) traded up 5.47% during midday trading on Tuesday, hitting $4.63. The stock had a trading volume of 1,432,883 shares. OceanaGold has a 1-year low of $1.79 and a 1-year high of $5.56. The stock has a market capitalization of $2.83 billion and a PE ratio of 27.40. The stock’s 50-day moving average is $4.61 and its 200-day moving average is $4.36.
OceanaGold Corporation is an Australia-based gold mining and exploration company. The Company is engaged in the production of gold. The Company operates through three segments: New Zealand, the Philippines and the USA. Its asset portfolio consists of the Macraes Operations (Macraes), which include the operating Macraes open pit gold mines and Frasers underground gold mine; the Didipio Operations (Didipio), which includes an open pit that commenced commercial production, and an underground mine; the Waihi Gold Mine Operation (Waihi), which includes the Martha open pit and Correnso underground gold mine, and the Haile Gold Mine Project (Haile).
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