Oceanagold (NYSE:OGC) Upgraded at Zacks Research

Oceanagold (NYSE:OGC) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Tuesday, Zacks reports.

A number of other research firms have also recently commented on OGC. Wall Street Zen cut shares of Oceanagold from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 22nd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Oceanagold in a research note on Friday, September 4th. Scotiabank upgraded Oceanagold to a “strong-buy” rating in a report on Thursday, May 14th. Finally, Jefferies Financial Group raised Oceanagold to a “strong-buy” rating in a research note on Tuesday, June 9th. Two research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy”.

Oceanagold Stock Up 2.9%

NYSE OGC opened at $31.12 on Tuesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.63 and a quick ratio of 1.24. Oceanagold has a 52 week low of $19.33 and a 52 week high of $43.33. The stock has a market capitalization of $6.92 billion and a price-to-earnings ratio of 15.64. The stock’s fifty day moving average price is $26.99.

Oceanagold (NYSE:OGC) last announced its earnings results on Wednesday, August 5th. The company reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.05. The business had revenue of $647.30 million for the quarter. Oceanagold had a net margin of 35.14% and a return on equity of 36.44%. Equities research analysts anticipate that Oceanagold will post 4.17 EPS for the current year.

Institutional Trading of Oceanagold

A number of large investors have recently modified their holdings of OGC. Nykredit A S bought a new position in Oceanagold in the second quarter worth approximately $125,000. Engineers Gate Manager LP purchased a new position in Oceanagold during the 2nd quarter worth $337,000. Tidal Investments LLC bought a new stake in Oceanagold during the 2nd quarter valued at $355,000. TD Waterhouse Canada Inc. bought a new stake in Oceanagold during the 2nd quarter valued at $584,000. Finally, Sequoia Financial Advisors LLC purchased a new stake in shares of Oceanagold in the 2nd quarter worth $603,000.

About Oceanagold

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.