2,292,763 Shares in Oceanagold Corp. $OGC Bought by Ninety One UK Ltd

Ninety One UK Ltd acquired a new stake in Oceanagold Corp. (NYSE:OGC) during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 2,292,763 shares of the company’s stock, valued at approximately $63,288,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp bought a new stake in shares of Oceanagold in the 2nd quarter worth $1,701,000. Public Employees Retirement System of Ohio purchased a new position in shares of Oceanagold in the second quarter worth $14,465,000. The Manufacturers Life Insurance Company purchased a new position in shares of Oceanagold in the second quarter worth $15,332,000. Groupe la Francaise purchased a new position in shares of Oceanagold in the second quarter worth $19,560,000. Finally, TD Waterhouse Canada Inc. bought a new position in shares of Oceanagold during the second quarter valued at $584,000.

Wall Street Analyst Weigh In

OGC has been the topic of a number of research analyst reports. Zacks Research raised Oceanagold from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 8th. Wall Street Zen upgraded Oceanagold from a “hold” rating to a “buy” rating in a report on Saturday, October 3rd. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Oceanagold in a report on Friday, September 4th. Two equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy”.

Oceanagold Stock Performance

Shares of OGC stock traded up $0.95 during trading hours on Thursday, reaching $26.44. The company had a trading volume of 135,739 shares, compared to its average volume of 314,729. The company has a current ratio of 1.63, a quick ratio of 1.24 and a debt-to-equity ratio of 0.01. The business has a fifty day moving average of $28.73. Oceanagold Corp. has a one year low of $20.18 and a one year high of $43.33. The firm has a market capitalization of $5.86 billion and a price-to-earnings ratio of 13.27.

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

Oceanagold Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 18th. Shareholders of record on Wednesday, August 19th were paid a dividend of C$0.09 per share. The ex-dividend date was Wednesday, August 19th. This represents a $0.36 dividend on an annualized basis and a yield of 1.4%. Oceanagold’s payout ratio is currently 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.