BMO Capital Markets Upgrades OceanaGold (TSE:OGC) to Outperform

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OceanaGold (TSE:OGC) was upgraded by investment analysts at BMO Capital Markets from a “market perform” rating to an “outperform” rating in a research report issued on Wednesday, BayStreet.CA reports.

A number of other research analysts have also recently commented on the company. Raymond James reiterated an “outperform” rating and issued a C$5.50 price target on shares of OceanaGold in a research note on Tuesday, June 4th. Pi Financial reduced their price objective on OceanaGold from C$6.00 to C$5.70 in a research report on Wednesday, August 21st. Finally, National Bank Financial upped their target price on OceanaGold from C$4.75 to C$5.25 and gave the stock an “outperform” rating in a report on Thursday, September 5th. Seven research analysts have rated the stock with a buy rating, The company currently has a consensus rating of “Buy” and an average price target of C$5.28.

TSE:OGC traded up C$0.18 on Wednesday, hitting C$3.27. The company had a trading volume of 1,247,016 shares, compared to its average volume of 1,737,001. OceanaGold has a 52 week low of C$2.85 and a 52 week high of C$5.01. The company has a current ratio of 1.21, a quick ratio of 0.54 and a debt-to-equity ratio of 12.21. The stock has a market capitalization of $1.93 billion and a price-to-earnings ratio of 36.28. The firm has a 50 day moving average of C$3.43 and a two-hundred day moving average of C$3.79.

OceanaGold (TSE:OGC) last posted its earnings results on Thursday, July 25th. The company reported C$0.04 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.03 by C$0.01. The company had revenue of C$248.81 million for the quarter. As a group, equities analysts forecast that OceanaGold will post 0.21 EPS for the current year.

OceanaGold Company Profile

OceanaGold Corporation engages in the exploration, development, and operation of mineral properties. The company operates the Didipio gold-copper mine on Luzon Island in the Philippines; the Macraes goldfield mine on the South Island of New Zealand; the Waihi gold mine on the North Island of New Zealand; and Haile gold mine located in South Carolina, United States of America.

See Also: Correction

Analyst Recommendations for OceanaGold (TSE:OGC)

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