OceanaGold (OTCMKTS:OCANF) Price Target Cut to $3.25 by Analysts at CIBC

OceanaGold (OTCMKTS:OCANF) had its price objective dropped by investment analysts at CIBC from $3.80 to $3.25 in a note issued to investors on Wednesday, The Fly reports. The brokerage presently has a “neutral” rating on the stock. CIBC’s price target points to a potential upside of 48.40% from the company’s current price.

Other analysts also recently issued research reports about the stock. Raymond James restated a “buy” rating on shares of OceanaGold in a report on Wednesday, August 5th. Stifel Nicolaus increased their price objective on shares of OceanaGold from $4.25 to $5.50 and gave the stock a “buy” rating in a research report on Friday, July 17th. Desjardins began coverage on shares of OceanaGold in a research report on Tuesday, September 8th. They set a “hold” rating for the company. JPMorgan Chase & Co. began coverage on shares of OceanaGold in a research report on Friday, July 31st. They set an “overweight” rating for the company. Finally, Pi Financial lowered their price objective on shares of OceanaGold from $5.75 to $5.50 and set a “buy” rating for the company in a research report on Friday, August 28th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. OceanaGold has a consensus rating of “Buy” and a consensus target price of $4.38.

Shares of OTCMKTS OCANF remained flat at $$2.19 during midday trading on Wednesday. 93,582 shares of the stock were exchanged, compared to its average volume of 107,862. The firm has a fifty day moving average of $2.43 and a 200 day moving average of $1.94. OceanaGold has a fifty-two week low of $0.80 and a fifty-two week high of $2.99.

OceanaGold Company Profile

OceanaGold Corporation engages in the exploration, development, and operation of mineral properties. The company operates the Didipio gold-copper mine on Luzon Island in the Philippines; the Macraes goldfield mine on the South Island of New Zealand; the Waihi gold mine on the North Island of New Zealand; and Haile gold mine located in South Carolina, United States of America.

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Analyst Recommendations for OceanaGold (OTCMKTS:OCANF)

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