OceanaGold (TSE:OGC) Given New C$5.50 Price Target at National Bankshares

OceanaGold (TSE:OGC) had its price target cut by equities researchers at National Bankshares from C$6.00 to C$5.50 in a research note issued to investors on Wednesday, BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. National Bankshares’ target price suggests a potential upside of 33.82% from the company’s previous close.

Several other equities analysts have also commented on OGC. Jefferies Financial Group upped their target price on OceanaGold from C$4.00 to C$5.00 in a research note on Friday, July 12th. CIBC upped their price objective on shares of OceanaGold from C$5.00 to C$5.25 in a research note on Wednesday, July 10th. Desjardins raised their target price on shares of OceanaGold from C$4.90 to C$5.50 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Royal Bank of Canada boosted their target price on shares of OceanaGold from C$5.00 to C$5.50 and gave the company an “outperform” rating in a report on Tuesday, September 10th. Finally, Scotiabank increased their price target on shares of OceanaGold from C$4.25 to C$4.75 in a research note on Monday, August 19th. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of C$4.88.

OceanaGold Price Performance

OceanaGold stock opened at C$4.11 on Wednesday. The firm’s 50-day moving average is C$3.72 and its two-hundred day moving average is C$3.42. The stock has a market capitalization of C$2.92 billion, a P/E ratio of 411.00 and a beta of 1.62. OceanaGold has a 12-month low of C$2.08 and a 12-month high of C$4.41.

OceanaGold (TSE:OGC) last released its earnings results on Tuesday, July 30th. The company reported C$0.05 EPS for the quarter, hitting the consensus estimate of C$0.05. OceanaGold had a net margin of 0.10% and a return on equity of 0.24%. The firm had revenue of C$343.70 million during the quarter. As a group, analysts forecast that OceanaGold will post 0.6283048 EPS for the current year.

OceanaGold Company Profile

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.