Oceanagold (NYSE:OGC) Upgraded to Hold at Zacks Research

Zacks Research upgraded shares of Oceanagold (NYSE:OGC) from a strong sell rating to a hold rating in a report released on Tuesday,Zacks reports.

Several other equities analysts have also commented on OGC. Jefferies Financial Group upgraded Oceanagold to a “strong-buy” rating in a research report on Tuesday, June 9th. Wall Street Zen cut shares of Oceanagold from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 22nd. Weiss Ratings reiterated a “buy (b-)” rating on shares of Oceanagold in a research report on Friday, September 4th. Finally, Scotiabank upgraded shares of Oceanagold to a “strong-buy” rating in a research report on Thursday, May 14th. Two investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy”.

Oceanagold Trading Up 2.9%

Oceanagold stock opened at $31.12 on Tuesday. The company has a 50-day moving average price of $26.99. The company has a market capitalization of $6.92 billion and a P/E ratio of 15.64. Oceanagold has a 12 month low of $19.33 and a 12 month high of $43.33. The company has a quick ratio of 1.24, a current ratio of 1.63 and a debt-to-equity ratio of 0.01.

Oceanagold (NYSE:OGC) last announced its earnings results on Wednesday, August 5th. The company reported $0.98 EPS for the quarter, beating the consensus estimate of $0.93 by $0.05. Oceanagold had a return on equity of 36.44% and a net margin of 35.14%.The company had revenue of $647.30 million for the quarter. As a group, analysts predict that Oceanagold will post 4.17 earnings per share for the current fiscal year.

Oceanagold Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Wednesday, August 19th will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $0.36 annualized dividend and a yield of 1.2%. Oceanagold’s payout ratio is 18.09%.

Institutional Trading of Oceanagold

Institutional investors and hedge funds have recently modified their holdings of the business. Allianz Asset Management GmbH purchased a new stake in shares of Oceanagold in the second quarter valued at $63,741,000. Groupe la Francaise acquired a new stake in shares of Oceanagold during the 2nd quarter valued at approximately $19,560,000. The Manufacturers Life Insurance Company bought a new position in shares of Oceanagold during the second quarter valued at approximately $15,332,000. Public Employees Retirement System of Ohio bought a new stake in Oceanagold in the 2nd quarter valued at about $14,465,000. Finally, Bank of New York Mellon Corp acquired a new stake in Oceanagold in the 2nd quarter valued at approximately $1,701,000.

Oceanagold Company Profile

OceanaGold Corporation is a gold and copper mining company that explores for, develops, and operates precious metals projects. The company’s portfolio includes producing mines and development assets, with a focus on the extraction and processing of gold and copper from its owned and operated operations.

Founded in 1989, OceanaGold has built a business centered on long-life mineral assets and responsible mining practices. Its operations have historically been located in the Asia-Pacific region, including New Zealand, the Philippines, and the United States, giving it exposure to several established mining jurisdictions.

The company is headquartered in Vancouver, Canada.