Oceanagold (NYSE:OGC) Stock Price Up 4.4% – Should You Buy?

Oceanagold Corp. (NYSE:OGC)’s share price shot up 4.4% during trading on Thursday . The company traded as high as $26.44 and last traded at $26.1140. Approximately 474,723 shares changed hands during mid-day trading, an increase of 154% from the average session volume of 187,199 shares. The stock had previously closed at $25.02.

Analysts Set New Price Targets

OGC has been the topic of a number of recent analyst reports. Jefferies Financial Group upgraded Oceanagold to a “strong-buy” rating in a research report on Tuesday, June 9th. Scotiabank raised shares of Oceanagold to a “strong-buy” rating in a report on Thursday, May 14th. Zacks Research raised shares of Oceanagold to a “hold” rating in a report on Wednesday, May 20th. Finally, Weiss Ratings cut shares of Oceanagold from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, June 8th. Two research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Oceanagold currently has a consensus rating of “Buy”.

Oceanagold Stock Performance

The company has a market cap of $5.84 billion and a price-to-earnings ratio of 25.86.

Oceanagold Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 19th. Shareholders of record on Wednesday, May 20th were issued a dividend of $0.09 per share. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.4%. Oceanagold’s dividend payout ratio is presently 35.64%.

OceanaGold Corporation is a gold and copper mining company that explores for, develops, and operates precious metals projects. The company’s portfolio includes producing mines and development assets, with a focus on the extraction and processing of gold and copper from its owned and operated operations.

Founded in 1989, OceanaGold has built a business centered on long-life mineral assets and responsible mining practices. Its operations have historically been located in the Asia-Pacific region, including New Zealand, the Philippines, and the United States, giving it exposure to several established mining jurisdictions.

The company is headquartered in Vancouver, Canada.