OceanaGold (TSE:OGC) Reaches New 1-Year High – Still a Buy?

OceanaGold Co. (TSE:OGC)’s share price reached a new 52-week high during trading on Monday . The stock traded as high as C$46.64 and last traded at C$46.02, with a volume of 37159 shares. The stock had previously closed at C$44.87.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on OGC. Desjardins set a C$50.00 price objective on OceanaGold and gave the company a “buy” rating in a research note on Friday, November 28th. CIBC raised their price objective on OceanaGold from C$30.00 to C$50.00 in a research report on Friday, October 10th. Canaccord Genuity Group increased their target price on OceanaGold from C$25.00 to C$36.00 in a research note on Thursday, October 2nd. Finally, Jefferies Financial Group upped their price target on shares of OceanaGold from C$43.00 to C$45.00 in a research report on Monday, December 8th. One investment analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the company’s stock. According to data from MarketBeat, OceanaGold presently has an average rating of “Buy” and an average target price of C$34.08.

OceanaGold Stock Up 2.5%

The company has a market cap of C$10.51 billion, a P/E ratio of 26.90 and a beta of 1.85. The firm has a 50 day moving average of C$37.77 and a 200-day moving average of C$30.13.

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