Brian Douglas Martin Sells 30,000 Shares of OceanaGold (TSE:OGC) Stock

OceanaGold Co. (TSE:OGC) insider Brian Douglas Martin sold 30,000 shares of OceanaGold stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of C$40.47, for a total transaction of C$1,214,100.00. Following the sale, the insider directly owned 19,363 shares of the company’s stock, valued at C$783,620.61. The trade was a 60.77% decrease in their position.

OceanaGold Stock Performance

Shares of OGC stock traded up C$1.16 during midday trading on Friday, hitting C$41.63. 341,253 shares of the company were exchanged, compared to its average volume of 845,244. OceanaGold Co. has a 52 week low of C$17.94 and a 52 week high of C$59.20. The firm’s 50 day moving average price is C$43.61 and its two-hundred day moving average price is C$43.75. The firm has a market capitalization of C$9.32 billion, a P/E ratio of 12.69 and a beta of 2.54.

OceanaGold (TSE:OGC) last issued its quarterly earnings data on Wednesday, May 6th. The company reported C$1.40 earnings per share for the quarter. OceanaGold had a net margin of 33.78% and a return on equity of 34.87%. The business had revenue of C$993.37 million during the quarter. Analysts expect that OceanaGold Co. will post 0.6283048 EPS for the current year.

OceanaGold announced that its Board of Directors has authorized a stock repurchase program on Wednesday, February 18th that allows the company to repurchase $350.00 million in shares. This repurchase authorization allows the company to buy up to 2.9% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

OGC has been the subject of several analyst reports. Desjardins lifted their price objective on shares of OceanaGold from C$63.00 to C$65.00 and gave the stock a “buy” rating in a research note on Friday, February 20th. Canadian Imperial Bank of Commerce boosted their target price on shares of OceanaGold from C$66.00 to C$72.00 in a research report on Thursday, February 26th. TD boosted their target price on shares of OceanaGold from C$55.00 to C$56.00 and gave the company a “buy” rating in a research report on Tuesday, April 21st. Finally, Royal Bank Of Canada boosted their target price on shares of OceanaGold from C$52.00 to C$78.00 in a research report on Thursday, March 12th. Five investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of C$56.11.

OceanaGold Company Profile

OceanaGold is a global 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 wholly-owned Haile Gold Mine in the United States of America ; the wholly-owned Macraes and Waihi operations in New Zealand ; and the 80%-owned Didipio Mine in the Philippines.