OceanaGold (TSE:OGC) Posts Earnings Results

OceanaGold (TSE:OGC) posted its quarterly earnings data on Wednesday. The company reported C$1.21 EPS for the quarter, FiscalAI reports. The firm had revenue of C$870.81 million during the quarter. OceanaGold had a net margin of 5.86% and a return on equity of 3.82%.

OceanaGold Price Performance

Shares of TSE OGC opened at C$52.15 on Friday. OceanaGold has a 1 year low of C$10.86 and a 1 year high of C$54.25. The company has a market capitalization of C$11.91 billion, a price-to-earnings ratio of 30.50 and a beta of 1.94. The business has a 50-day moving average of C$44.81 and a two-hundred day moving average of C$35.02.

Analysts Set New Price Targets

Several equities analysts recently commented on OGC shares. Scotiabank boosted their target price on OceanaGold from C$44.00 to C$65.00 in a research report on Monday, January 26th. Jefferies Financial Group boosted their price objective on shares of OceanaGold from C$45.00 to C$53.00 in a report on Monday, January 19th. Desjardins set a C$50.00 target price on OceanaGold and gave the stock a “buy” rating in a research report on Friday, November 28th. Canadian Imperial Bank of Commerce lifted their price objective on shares of OceanaGold from C$50.00 to C$66.00 in a research report on Wednesday, February 4th. Finally, TD Securities lifted their price objective on shares of OceanaGold from C$38.00 to C$56.00 in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of C$48.00.

OceanaGold declared that its Board of Directors has approved a share buyback program on Wednesday, February 18th that authorizes the company to buyback $350.00 million in shares. This buyback authorization authorizes the company to purchase up to 2.9% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

About OceanaGold

OceanaGold is a growing intermediate gold and copper producer committed to safely and responsibly maximizing the generation of Free Cash Flow from our operations and delivering strong returns for our shareholders. We have a portfolio of four operating mines: the Haile Gold Mine in the United States of America; Didipio Mine in the Philippines; and the Macraes and Waihi operations in New Zealand.