OceanaGold (TSE:OGC) Sets New 52-Week High – Should You Buy?

OceanaGold Co. (TSE:OGC) reached a new 52-week high during trading on Monday . The stock traded as high as C$44.30 and last traded at C$43.68, with a volume of 43347 shares changing hands. The stock had previously closed at C$42.23.

Wall Street Analyst Weigh In

OGC has been the topic of several analyst reports. CIBC upped their price target on shares of OceanaGold from C$30.00 to C$50.00 in a research report on Friday, October 10th. Jefferies Financial Group boosted their price objective on shares of OceanaGold from C$43.00 to C$45.00 in a research note on Monday, December 8th. Desjardins set a C$50.00 target price on shares of OceanaGold and gave the company a “buy” rating in a research note on Friday, November 28th. Finally, Canaccord Genuity Group lifted their price target on OceanaGold from C$25.00 to C$36.00 in a report on Thursday, October 2nd. One analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the stock. According to MarketBeat, OceanaGold has a consensus rating of “Buy” and an average price target of C$34.08.

OceanaGold Price Performance

The firm has a market capitalization of C$10.26 billion, a P/E ratio of 26.27 and a beta of 1.85. The business’s 50-day moving average is C$36.99 and its 200 day moving average is C$29.59.

OceanaGold (TSE:OGC) last posted its quarterly earnings data on Wednesday, November 5th. The company reported C$0.40 EPS for the quarter. The firm had revenue of C$624.50 million for the quarter. OceanaGold had a return on equity of 3.82% and a net margin of 5.86%. Analysts anticipate that OceanaGold Co. will post 0.6283048 EPS for the current fiscal 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.