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

OceanaGold Co. (TSE:OGC) hit a new 52-week high on Monday after Jefferies Financial Group raised their price target on the stock from C$45.00 to C$53.00. The company traded as high as C$46.64 and last traded at C$46.02, with a volume of 37159 shares traded. The stock had previously closed at C$44.87.

A number of other research analysts have also weighed in on OGC. Desjardins set a C$50.00 target price on OceanaGold and gave the stock a “buy” rating in a report on Friday, November 28th. Canaccord Genuity Group lifted their price objective on shares of OceanaGold from C$25.00 to C$36.00 in a research report on Thursday, October 2nd. Finally, CIBC upped their price objective on shares of OceanaGold from C$30.00 to C$50.00 in a report on Friday, October 10th. One investment analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the company’s stock. According to data from MarketBeat.com, OceanaGold has an average rating of “Buy” and a consensus target price of C$34.97.

OceanaGold Price Performance

The company has a market capitalization of C$10.92 billion, a price-to-earnings ratio of 27.95 and a beta of 1.85. The business’s 50-day moving average price is C$38.28 and its two-hundred day moving average price is C$30.52.

OceanaGold (TSE:OGC) last posted its quarterly earnings data on Wednesday, November 5th. The company reported C$0.40 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, research analysts predict that OceanaGold Co. will post 0.6283048 EPS for the current 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.