Oceanagold (NYSE:OGC) Releases Earnings Results, Beats Estimates By $0.05 EPS

Oceanagold (NYSE:OGC) released its earnings results on Wednesday. The company reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.05, Zacks reports. Oceanagold had a return on equity of 36.44% and a net margin of 35.14%. The business had revenue of $654.90 million for the quarter.

Oceanagold Stock Performance

NYSE:OGC traded up $1.59 during trading hours on Thursday, hitting $27.37. The company’s stock had a trading volume of 1,013,354 shares, compared to its average volume of 337,787. The company has a 50-day moving average price of $27.61. The firm has a market capitalization of $6.03 billion and a P/E ratio of 13.75. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.63 and a quick ratio of 1.24. Oceanagold has a 52-week low of $20.18 and a 52-week high of $43.33.

Oceanagold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 18th. Investors of record on Wednesday, November 18th will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Wednesday, November 18th. Oceanagold’s dividend payout ratio is currently 18.09%.

Analyst Upgrades and Downgrades

OGC has been the subject of several recent research reports. Zacks Research downgraded Oceanagold from a “hold” rating to a “strong sell” rating in a report on Monday. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Oceanagold in a research note on Friday, October 16th. Wall Street Zen downgraded shares of Oceanagold from a “buy” rating to a “hold” rating in a research report on Saturday, October 17th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Oceanagold in a research report on Friday, September 4th. Two equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy”.

About Oceanagold

OceanaGold Corporation is a Canadian precious-metals mining company headquartered in Vancouver, British Columbia. The company explores, develops and operates mines that produce gold and, in some operations, copper concentrates.

OceanaGold’s principal assets have included the Haile Gold Mine in South Carolina, the Didipio gold-copper mine in the Philippines, and gold operations in New Zealand, including the Waihi and Macraes mines. Its operations and projects have given the company a presence across North America, Asia and Oceania.

Founded in 2003, OceanaGold has grown through the development and acquisition of producing mines and mineral projects.