Brian Douglas Martin Sells 30,000 Shares of OceanaGold (TSE:OGC) Stock

OceanaGold Co. (TSE:OGC) insider Brian Douglas Martin sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of C$40.47, for a total transaction of C$1,214,100.00. Following the sale, the insider owned 19,363 shares of the company’s stock, valued at C$783,620.61. This represents a 60.77% decrease in their position.

OceanaGold Price Performance

Shares of TSE OGC opened at C$41.64 on Friday. The company has a 50 day simple moving average of C$43.56 and a 200-day simple moving average of C$43.73. The company has a market capitalization of C$9.32 billion, a P/E ratio of 12.70 and a beta of 2.54. OceanaGold Co. has a 1 year low of C$17.94 and a 1 year high of C$59.20.

OceanaGold (TSE:OGC) last announced its quarterly earnings results on Wednesday, May 6th. The company reported C$1.40 earnings per share (EPS) for the quarter. The business had revenue of C$993.37 million during the quarter. OceanaGold had a net margin of 33.78% and a return on equity of 34.87%. As a group, research analysts expect that OceanaGold Co. will post 0.6283048 EPS for the current year.

OceanaGold announced that its Board of Directors has initiated a share buyback program on Wednesday, February 18th that permits the company to buyback $350.00 million in shares. This buyback authorization permits the company to reacquire up to 2.9% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Royal Bank Of Canada increased their price objective on shares of OceanaGold from C$52.00 to C$78.00 in a research report on Thursday, March 12th. Desjardins increased their price objective on shares of OceanaGold from C$63.00 to C$65.00 and gave the stock a “buy” rating in a research report on Friday, February 20th. Canadian Imperial Bank of Commerce increased their price objective on shares of OceanaGold from C$66.00 to C$72.00 in a research report on Thursday, February 26th. Finally, TD increased their price objective on shares of OceanaGold from C$55.00 to C$56.00 and gave the stock a “buy” rating in a research report on Tuesday, April 21st. Five investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of C$56.11.

About OceanaGold

OceanaGold is a global 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 wholly-owned Haile Gold Mine in the United States of America ; the wholly-owned Macraes and Waihi operations in New Zealand ; and the 80%-owned Didipio Mine in the Philippines.