Brokers Set Expectations for OceanaGold Co.’s Q2 2024 Earnings (TSE:OGC)

OceanaGold Co. (TSE:OGC) – Stock analysts at Raymond James raised their Q2 2024 earnings estimates for shares of OceanaGold in a research note issued on Tuesday, April 23rd. Raymond James analyst F. Hamed now expects that the company will earn $0.10 per share for the quarter, up from their prior estimate of $0.04. The consensus estimate for OceanaGold’s current full-year earnings is $0.30 per share. Raymond James also issued estimates for OceanaGold’s FY2024 earnings at $0.44 EPS.

OceanaGold (TSE:OGC) last released its earnings results on Wednesday, February 21st. The company reported C$0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.02 by C($0.01). The firm had revenue of C$363.94 million during the quarter. OceanaGold had a net margin of 8.10% and a return on equity of 4.88%.

Several other research analysts have also weighed in on the stock. Cormark cut their price objective on shares of OceanaGold from C$3.25 to C$3.00 in a report on Monday, February 26th. Canaccord Genuity Group increased their target price on shares of OceanaGold from C$4.00 to C$4.25 in a research report on Tuesday, April 23rd. Desjardins increased their target price on shares of OceanaGold from C$3.50 to C$4.00 and gave the stock a “buy” rating in a research report on Tuesday, January 30th. BMO Capital Markets dropped their target price on shares of OceanaGold from C$4.25 to C$3.75 in a research report on Thursday, February 22nd. Finally, National Bank Financial reissued an “outperform overweight” rating on shares of OceanaGold in a research report on Monday, April 8th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of C$4.08.

OceanaGold Stock Performance

TSE:OGC opened at C$3.20 on Friday. The stock has a market cap of C$2.26 billion, a price-to-earnings ratio of 20.00 and a beta of 1.50. The company has a 50-day moving average price of C$2.88. OceanaGold has a 12-month low of C$2.08 and a 12-month high of C$3.50.

Insider Activity

In other OceanaGold news, Director Paul Benson purchased 44,400 shares of the stock in a transaction dated Tuesday, February 27th. The shares were bought at an average cost of C$2.25 per share, with a total value of C$99,678.00. Corporate insiders own 0.14% of the company’s stock.

OceanaGold Announces Dividend

The firm also recently declared a Semi-Annual dividend, which was paid on Friday, April 26th. Stockholders of record on Thursday, March 7th were issued a dividend of $0.013 per share. The ex-dividend date of this dividend was Wednesday, March 6th. OceanaGold’s dividend payout ratio (DPR) is 18.75%.

About OceanaGold

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.