Scotiabank Issues Optimistic Outlook for OceanaGold Earnings

OceanaGold Co. (TSE:OGC) – Stock analysts at Scotiabank increased their FY2027 EPS estimates for OceanaGold in a research report issued on Thursday, May 14th. Scotiabank analyst O. Habib now anticipates that the company will post earnings of $4.57 per share for the year, up from their prior estimate of $4.56. The consensus estimate for OceanaGold’s current full-year earnings is $0.63 per share.

Several other research firms have also recently weighed in on OGC. Canadian Imperial Bank of Commerce boosted their target price on OceanaGold from C$66.00 to C$72.00 in a research note on Thursday, February 26th. TD raised their price objective on shares of OceanaGold from C$55.00 to C$56.00 and gave the stock a “buy” rating in a report on Tuesday, April 21st. Jefferies Financial Group upped their target price on shares of OceanaGold from C$45.00 to C$53.00 in a report on Monday, January 19th. Royal Bank Of Canada increased their target price on shares of OceanaGold from C$52.00 to C$78.00 in a research report on Thursday, March 12th. Finally, Desjardins lifted their target price on OceanaGold from C$63.00 to C$65.00 and gave the stock a “buy” rating in a research report on Friday, February 20th. Five equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of C$56.11.

OceanaGold Stock Performance

OGC opened at C$45.91 on Friday. OceanaGold has a one year low of C$16.53 and a one year high of C$59.20. The company has a market cap of C$10.27 billion, a P/E ratio of 14.00 and a beta of 2.54. The business’s 50-day simple moving average is C$45.33 and its 200-day simple moving average is C$43.02.

OceanaGold (TSE:OGC) last posted its quarterly earnings results on Wednesday, May 6th. The company reported C$1.40 earnings per share for the quarter. The company had revenue of C$993.37 million for the quarter. OceanaGold had a return on equity of 34.87% and a net margin of 33.78%.

OceanaGold declared that its Board of Directors has authorized a stock repurchase program on Wednesday, February 18th that authorizes the company to buyback $350.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 2.9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

OceanaGold Company Profile

OceanaGold is a global 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 wholly-owned Haile Gold Mine in the United States of America ; the wholly-owned Macraes and Waihi operations in New Zealand ; and the 80%-owned Didipio Mine in the Philippines.