OceanaGold (TSE:OGC) Hits New 12-Month High on Analyst Upgrade

Shares of OceanaGold Co. (TSE:OGC) hit a new 52-week high during mid-day trading on Tuesday after Jefferies Financial Group raised their price target on the stock from C$43.00 to C$45.00. The company traded as high as C$37.16 and last traded at C$36.91, with a volume of 198349 shares changing hands. The stock had previously closed at C$35.92.

OGC has been the subject of a number of other reports. Desjardins set a C$50.00 price target on shares of OceanaGold and gave the company a “buy” rating in a research report on Friday, November 28th. Canaccord Genuity Group boosted their target price on OceanaGold from C$25.00 to C$36.00 in a research report on Thursday, October 2nd. TD Securities upgraded OceanaGold from a “hold” rating to a “buy” rating and upped their target price for the stock from C$22.00 to C$30.00 in a research note on Monday, September 8th. CIBC lifted their price target on OceanaGold from C$30.00 to C$50.00 in a research report on Friday, October 10th. Finally, Royal Bank Of Canada boosted their price objective on OceanaGold from C$28.00 to C$34.00 in a report on Wednesday, September 10th. One investment analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of C$34.08.

OceanaGold Trading Down 0.1%

The stock has a market cap of C$8.49 billion, a PE ratio of 21.73 and a beta of 1.53. The business has a fifty day simple moving average of C$33.39 and a two-hundred day simple moving average of C$26.17.

OceanaGold (TSE:OGC) last issued its quarterly earnings results on Wednesday, November 5th. The company reported C$0.40 earnings per share (EPS) for the quarter. OceanaGold had a net margin of 5.86% and a return on equity of 3.82%. The company had revenue of C$624.50 million during the quarter. On average, research analysts predict that OceanaGold Co. will post 0.6283048 earnings per share for the current year.

About OceanaGold

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.