Wall Street Zen Downgrades Oceanagold (NYSE:OGC) to Hold

Oceanagold (NYSE:OGC) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Saturday, Wall Street Zen reports.

Several other brokerages have also recently issued reports on OGC. Jefferies Financial Group upgraded Oceanagold to a “strong-buy” rating in a research note on Tuesday, June 9th. Weiss Ratings restated a “buy (b-)” rating on shares of Oceanagold in a report on Friday, September 4th. Finally, Zacks Research raised Oceanagold from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 8th. Two investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Oceanagold has a consensus rating of “Buy”.

Oceanagold Stock Performance

NYSE OGC opened at $28.74 on Friday. The company has a 50 day simple moving average of $27.55. The company has a current ratio of 1.63, a quick ratio of 1.24 and a debt-to-equity ratio of 0.01. Oceanagold has a one year low of $19.43 and a one year high of $43.33. The stock has a market capitalization of $6.37 billion and a price-to-earnings ratio of 14.44.

Oceanagold (NYSE:OGC) last announced its earnings results on Wednesday, August 5th. The company reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.05. The firm 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 analysts predict that Oceanagold will post 4.17 EPS for the current fiscal year.

Hedge Funds Weigh In On Oceanagold

Large investors have recently bought and sold shares of the business. Public Employees Retirement System of Ohio purchased a new stake in Oceanagold during the 2nd quarter worth about $14,465,000. The Manufacturers Life Insurance Company purchased a new position in shares of Oceanagold in the 2nd quarter valued at about $15,332,000. Groupe la Francaise acquired a new stake in shares of Oceanagold during the 2nd quarter worth about $19,560,000. TD Waterhouse Canada Inc. acquired a new stake in shares of Oceanagold during the 2nd quarter worth about $584,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Oceanagold during the 2nd quarter worth about $1,701,000.

Oceanagold Company Profile

OceanaGold Corporation is a mid-tier gold producer headquartered in Vancouver, Canada. The company explores for, develops and operates gold and copper-gold properties, with operations spanning North America, the Asia-Pacific region and Oceania. Its products primarily include gold, with silver and copper produced as byproducts at certain operations.

OceanaGold’s operating portfolio includes the Haile Gold Mine in South Carolina, the Didipio gold-copper mine in the Philippines, and the Macraes and Waihi operations in New Zealand.