OceanaGold (TSE:OGC) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

OceanaGold (TSE:OGC) had its target price hoisted by equities researchers at Royal Bank Of Canada from C$52.00 to C$78.00 in a research note issued to investors on Thursday,BayStreet.CA reports. Royal Bank Of Canada’s price objective indicates a potential upside of 52.76% from the company’s previous close.

Other research analysts have also issued reports about the company. Canadian Imperial Bank of Commerce upped their price objective on OceanaGold from C$66.00 to C$72.00 in a report on Thursday, February 26th. Jefferies Financial Group raised their price target on shares of OceanaGold from C$45.00 to C$53.00 in a research report on Monday, January 19th. Desjardins increased their target price on shares of OceanaGold from C$63.00 to C$65.00 and gave the stock a “buy” rating in a research report on Friday, February 20th. TD Securities lifted their price target on shares of OceanaGold from C$38.00 to C$56.00 in a research report on Thursday, January 22nd. Finally, Scotiabank increased their price target on OceanaGold from C$44.00 to C$65.00 in a research report on Monday, January 26th. One research analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the company. According to MarketBeat.com, OceanaGold presently has a consensus rating of “Buy” and an average price target of C$56.13.

OceanaGold Stock Up 0.6%

OGC stock traded up C$0.29 during midday trading on Thursday, reaching C$51.06. The company’s stock had a trading volume of 237,505 shares, compared to its average volume of 782,375. The business’s 50-day simple moving average is C$49.17 and its 200-day simple moving average is C$38.27. OceanaGold has a 52 week low of C$12.00 and a 52 week high of C$59.20. The stock has a market cap of C$11.49 billion, a PE ratio of 18.98 and a beta of 2.12.

OceanaGold (TSE:OGC) last issued its earnings results on Wednesday, February 18th. The company reported C$1.21 EPS for the quarter. The firm had revenue of C$870.81 million during the quarter. OceanaGold had a net margin of 33.30% and a return on equity of 30.82%. As a group, equities analysts forecast that OceanaGold will post 0.6283048 earnings per share for the current fiscal year.

OceanaGold declared that its Board of Directors has initiated a stock buyback plan on Wednesday, February 18th that allows the company to repurchase $350.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 2.9% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

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.