OceanaGold Co. (TSE:OGC) Receives Consensus Recommendation of “Buy” from Analysts

OceanaGold Co. (TSE:OGC) has been assigned an average rating of “Buy” from the five analysts that are covering the firm, Marketbeat.com reports. Five analysts have rated the stock with a buy rating. The average 1 year price target among analysts that have issued a report on the stock in the last year is C$56.11.

Several equities analysts have issued reports on OGC shares. Desjardins boosted their target price on OceanaGold from C$63.00 to C$65.00 and gave the stock a “buy” rating in a research report on Friday, February 20th. Royal Bank Of Canada boosted their target price on OceanaGold from C$52.00 to C$78.00 in a research report on Thursday, March 12th. TD boosted their target price on OceanaGold from C$55.00 to C$56.00 and gave the stock a “buy” rating in a research report on Tuesday, April 21st. Finally, Canadian Imperial Bank of Commerce boosted their target price on OceanaGold from C$66.00 to C$72.00 in a research report on Thursday, February 26th.

Insider Activity at OceanaGold

In other news, insider Brian Douglas Martin sold 30,000 shares of the business’s stock in a transaction that occurred on 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 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. 0.15% of the stock is owned by company insiders.

OceanaGold Stock Up 3.0%

Shares of OGC stock opened at C$40.03 on Wednesday. The stock has a market capitalization of C$8.96 billion, a PE ratio of 12.20 and a beta of 2.58. OceanaGold has a 52-week low of C$18.45 and a 52-week high of C$59.20. The stock’s 50-day moving average price is C$42.34 and its 200 day moving average price is C$44.10.

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

OceanaGold declared that its board has initiated a stock buyback program on Wednesday, February 18th that allows the company to buyback $350.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 2.9% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its stock is undervalued.

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.