OceanaGold Co. (OGC) Raised to Outperform at Scotiabank
OceanaGold Co. (TSE:OGC) was upgraded by stock analysts at Scotiabank from a “sector perform” rating to an “outperform” rating in a note issued to investors on Wednesday, StockTargetPrices.com reports. The firm currently has a C$6.50 target price on the stock, up from their previous target price of C$6.25. Scotiabank’s target price points to a potential upside of 48.06% from the stock’s current price.
OGC has been the subject of several other research reports. National Bank Financial raised their price target on OceanaGold from C$6.00 to C$6.50 in a report on Wednesday, July 13th. Raymond James Financial Inc. raised their price target on OceanaGold from C$5.20 to C$6.00 in a report on Monday, June 27th. BMO Capital Markets reaffirmed a “market perform” rating and set a C$6.00 price target on shares of OceanaGold in a report on Wednesday, September 7th. Finally, Barclays PLC assumed coverage on OceanaGold in a report on Friday, July 8th. They set an “equal weight” rating and a C$6.00 price target for the company. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of C$5.13.
Shares of OceanaGold (TSE:OGC) traded up 2.96% on Wednesday, reaching $4.52. 730,659 shares of the company traded hands. The firm’s 50 day moving average is $4.61 and its 200 day moving average is $4.36. The company has a market capitalization of $2.76 billion and a P/E ratio of 26.75. OceanaGold has a one year low of $1.79 and a one year high of $5.56.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/21/oceanagold-co-ogc-raised-to-outperform-at-scotiabank.html
OceanaGold Corporation is an Australia-based gold mining and exploration company. The Company is engaged in the production of gold. The Company operates through three segments: New Zealand, the Philippines and the USA. Its asset portfolio consists of the Macraes Operations (Macraes), which include the operating Macraes open pit gold mines and Frasers underground gold mine; the Didipio Operations (Didipio), which includes an open pit that commenced commercial production, and an underground mine; the Waihi Gold Mine Operation (Waihi), which includes the Martha open pit and Correnso underground gold mine, and the Haile Gold Mine Project (Haile).
Receive News & Ratings for OceanaGold Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for OceanaGold Co. and related companies with MarketBeat.com's FREE daily email newsletter.