OceanaGold (TSE:OGC) Reaches New 12-Month High Following Analyst Upgrade

OceanaGold Co. (TSE:OGC)’s share price hit a new 52-week high on Monday after Scotiabank raised their price target on the stock from C$44.00 to C$65.00. The stock traded as high as C$52.70 and last traded at C$52.26, with a volume of 68382 shares. The stock had previously closed at C$50.59.

OGC has been the topic of a number of other reports. Canaccord Genuity Group increased their price target on OceanaGold from C$25.00 to C$36.00 in a research report on Thursday, October 2nd. TD Securities boosted their price objective on OceanaGold from C$38.00 to C$56.00 in a research note on Thursday, January 22nd. Desjardins set a C$50.00 target price on OceanaGold and gave the stock a “buy” rating in a report on Friday, November 28th. CIBC raised their target price on OceanaGold from C$30.00 to C$50.00 in a research note on Friday, October 10th. Finally, Jefferies Financial Group lifted their price target on OceanaGold from C$45.00 to C$53.00 in a report on Monday, January 19th. One equities research analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of C$42.81.

OceanaGold Stock Down 1.9%

The firm has a market capitalization of C$11.63 billion, a price-to-earnings ratio of 29.78 and a beta of 1.85. The company’s fifty day moving average is C$39.85 and its two-hundred day moving average is C$31.61.

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

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.