Jefferies Financial Group Forecasts Strong Price Appreciation for OceanaGold (TSE:OGC) Stock

OceanaGold (TSE:OGC) had its price target lifted by equities research analysts at Jefferies Financial Group from C$45.00 to C$53.00 in a research report issued to clients and investors on Monday,BayStreet.CA reports. Jefferies Financial Group’s price target would suggest a potential upside of 14.69% from the company’s previous close.

Several other research firms also recently weighed in on OGC. CIBC increased their target price on OceanaGold from C$30.00 to C$50.00 in a research report on Friday, October 10th. Canaccord Genuity Group increased their price objective on shares of OceanaGold from C$25.00 to C$36.00 in a report on Thursday, October 2nd. Finally, Desjardins set a C$50.00 target price on shares of OceanaGold and gave the company a “buy” rating in a report on Friday, November 28th. One investment analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of C$34.97.

OceanaGold Stock Performance

TSE OGC traded up C$1.34 during mid-day trading on Monday, reaching C$46.21. 102,961 shares of the stock were exchanged, compared to its average volume of 490,476. The stock has a market capitalization of C$10.56 billion, a PE ratio of 27.02 and a beta of 1.85. OceanaGold has a 1-year low of C$10.86 and a 1-year high of C$46.64. The business’s fifty day simple moving average is C$37.77 and its 200 day simple moving average is C$30.13.

OceanaGold (TSE:OGC) last issued its quarterly earnings results on Wednesday, November 5th. The company reported C$0.40 earnings per share for the quarter. OceanaGold had a return on equity of 3.82% and a net margin of 5.86%.The company had revenue of C$624.50 million during the quarter. On average, analysts anticipate that OceanaGold will post 0.6283048 EPS for the current year.

OceanaGold Company Profile

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.