Oceanagold (NYSE:OGC) Issues Earnings Results, Beats Expectations By $0.05 EPS

Oceanagold (NYSE:OGC) released its quarterly earnings results on Wednesday. The company reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.05, Zacks reports.

Oceanagold Stock Performance

Shares of NYSE:OGC traded up $1.95 during midday trading on Wednesday, hitting $26.93. The company’s stock had a trading volume of 728,833 shares, compared to its average volume of 223,154. Oceanagold has a 12-month low of $14.19 and a 12-month high of $43.33. The stock has a market cap of $5.99 billion and a P/E ratio of 26.66. The business’s 50 day moving average is $25.44.

Analysts Set New Price Targets

OGC has been the topic of a number of recent analyst reports. Jefferies Financial Group raised shares of Oceanagold to a “strong-buy” rating in a report on Tuesday, June 9th. Scotiabank raised Oceanagold to a “strong-buy” rating in a report on Thursday, May 14th. Weiss Ratings lowered Oceanagold from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, June 8th. Finally, Zacks Research downgraded shares of Oceanagold from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 7th. Two equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy”.

OceanaGold Corporation is a gold and copper mining company that explores for, develops, and operates precious metals projects. The company’s portfolio includes producing mines and development assets, with a focus on the extraction and processing of gold and copper from its owned and operated operations.

Founded in 1989, OceanaGold has built a business centered on long-life mineral assets and responsible mining practices. Its operations have historically been located in the Asia-Pacific region, including New Zealand, the Philippines, and the United States, giving it exposure to several established mining jurisdictions.

The company is headquartered in Vancouver, Canada.