OceanaGold (TSE:OGC) Reaches New 1-Year High Following Analyst Upgrade

Shares of OceanaGold Co. (TSE:OGC) reached 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 stock traded as high as C$37.16 and last traded at C$36.91, with a volume of 198349 shares trading hands. The stock had previously closed at C$35.92.

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

OceanaGold Trading Up 2.9%

The firm has a market cap of C$8.44 billion, a PE ratio of 21.61 and a beta of 1.53. The firm’s 50 day simple moving average is C$33.12 and its 200 day simple moving average is C$25.90.

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