Cormark Comments on OceanaGold Co.’s FY2024 Earnings (TSE:OGC)

OceanaGold Co. (TSE:OGC) – Equities research analysts at Cormark lifted their FY2024 EPS estimates for shares of OceanaGold in a report issued on Thursday, May 2nd. Cormark analyst R. Gray now forecasts that the company will post earnings per share of $0.34 for the year, up from their prior forecast of $0.31. The consensus estimate for OceanaGold’s current full-year earnings is $0.32 per share.

Several other equities research analysts also recently issued reports on the company. Jefferies Financial Group raised their price target on OceanaGold from C$3.50 to C$4.00 and gave the company a “buy” rating in a report on Monday, April 22nd. BMO Capital Markets reduced their target price on shares of OceanaGold from C$4.25 to C$3.75 in a report on Thursday, February 22nd. National Bank Financial reissued an “outperform overweight” rating on shares of OceanaGold in a report on Monday, April 8th. CIBC boosted their price objective on OceanaGold from C$4.50 to C$5.00 and gave the stock an “outperform” rating in a report on Wednesday, February 7th. Finally, Desjardins increased their target price on OceanaGold from C$3.50 to C$4.00 and gave the stock a “buy” rating in a research note on Tuesday, January 30th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of C$4.17.

OceanaGold Stock Performance

OGC opened at C$2.95 on Monday. The firm has a market capitalization of C$2.10 billion, a PE ratio of 42.14 and a beta of 1.61. OceanaGold has a 12-month low of C$2.08 and a 12-month high of C$3.50. The company has a 50 day simple moving average of C$2.92.

OceanaGold (TSE:OGC) last posted its quarterly earnings results on Wednesday, February 21st. The company reported C$0.01 EPS for the quarter, missing analysts’ consensus estimates of C$0.02 by C($0.01). The business had revenue of C$363.94 million for the quarter. OceanaGold had a return on equity of 2.29% and a net margin of 3.69%.

OceanaGold Dividend Announcement

The business also recently declared a Semi-Annual dividend, which was paid on Friday, April 26th. Investors of record on Thursday, March 7th were paid a $0.013 dividend. The ex-dividend date was Wednesday, March 6th. OceanaGold’s dividend payout ratio (DPR) is currently 42.86%.

Insider Buying and Selling

In related news, Director Paul Benson purchased 44,400 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The shares were bought at an average price of C$2.25 per share, for a total transaction of C$99,678.00. 0.14% of the stock is currently owned by company insiders.

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.