OceanaGold (TSE:OGC) Hits New 1-Year High After Analyst Upgrade

OceanaGold Co. (TSE:OGC) reached a new 52-week high during mid-day trading on Monday after Scotiabank raised their price target on the stock from C$44.00 to C$65.00. The stock traded as high as C$52.70 and last traded at C$52.26, with a volume of 68382 shares trading hands. The stock had previously closed at C$50.59.

Several other research analysts also recently weighed in on OGC. TD Securities increased their price target on OceanaGold from C$38.00 to C$56.00 in a research note on Thursday. Canaccord Genuity Group upped their price objective on shares of OceanaGold from C$25.00 to C$36.00 in a report on Thursday, October 2nd. Jefferies Financial Group increased their target price on shares of OceanaGold from C$45.00 to C$53.00 in a research report on Monday, January 19th. Desjardins set a C$50.00 price target on shares of OceanaGold and gave the company a “buy” rating in a research report on Friday, November 28th. Finally, CIBC upped their price target on shares of OceanaGold from C$30.00 to C$50.00 in a research note on Friday, October 10th. One equities research analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of C$42.81.

OceanaGold Trading Up 2.6%

The company’s fifty day simple moving average is C$39.14 and its 200 day simple moving average is C$31.16. The stock has a market capitalization of C$11.85 billion, a P/E ratio of 30.35 and a beta of 1.85.

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

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.