Canaccord Genuity Group Raises OceanaGold (TSE:OGC) Price Target to C$4.25

OceanaGold (TSE:OGC) had its target price increased by Canaccord Genuity Group from C$4.00 to C$4.25 in a research report issued to clients and investors on Tuesday, BayStreet.CA reports. Canaccord Genuity Group’s target price indicates a potential upside of 37.99% from the company’s previous close.

Other equities research analysts also recently issued reports about the company. National Bankshares decreased their target price on OceanaGold from C$4.00 to C$3.75 in a research report on Friday, February 23rd. BMO Capital Markets decreased their target price on OceanaGold from C$4.25 to C$3.75 in a research report on Thursday, February 22nd. Raymond James boosted their target price on OceanaGold from C$4.50 to C$5.00 in a research report on Tuesday. Cormark decreased their price objective on OceanaGold from C$3.25 to C$3.00 in a research report on Monday, February 26th. Finally, CIBC upped their price objective on OceanaGold from C$4.50 to C$5.00 and gave the company an “outperform” rating in a research report on Wednesday, February 7th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, OceanaGold has an average rating of “Buy” and a consensus price target of C$4.08.

OceanaGold Stock Up 2.3 %

Shares of TSE OGC traded up C$0.07 during mid-day trading on Tuesday, reaching C$3.08. The company’s stock had a trading volume of 1,698,029 shares, compared to its average volume of 1,452,640. The company has a market cap of C$2.18 billion, a price-to-earnings ratio of 19.13 and a beta of 1.50. The firm’s fifty day simple moving average is C$2.85. OceanaGold has a 52 week low of C$2.08 and a 52 week high of C$3.50.

OceanaGold (TSE:OGC) last released its quarterly earnings data on Wednesday, February 21st. The company reported C$0.01 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.02 by C($0.01). The business had revenue of C$363.94 million during the quarter. OceanaGold had a return on equity of 4.88% and a net margin of 8.10%. As a group, equities research analysts anticipate that OceanaGold will post 0.2977737 EPS for the current fiscal year.

Insider Transactions at OceanaGold

In other OceanaGold news, Director Paul Benson purchased 44,400 shares of OceanaGold stock in a transaction dated Tuesday, February 27th. The shares were purchased at an average cost of C$2.25 per share, for a total transaction of C$99,678.00. Company insiders own 0.14% of the company’s stock.

About OceanaGold

OceanaGold Corporation, a gold and copper producer, engages in exploration, development, and operation of mineral properties in the United States, the Philippines, and New Zealand. It explores for gold, copper, and silver deposits. OceanaGold Corporation was founded in 2003 and is based in Vancouver, Canada.