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

OceanaGold Co. (TSE:OGC) has received an average recommendation of “Buy” from the five brokerages that are currently covering the stock, Marketbeat.com reports. Five equities research analysts have rated the stock with a buy recommendation. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is C$56.11.

Several research analysts recently issued reports on the stock. Royal Bank Of Canada increased their target price on shares of OceanaGold from C$52.00 to C$78.00 in a research note on Thursday, March 12th. Canadian Imperial Bank of Commerce upped their price objective on shares of OceanaGold from C$66.00 to C$72.00 in a report on Thursday, February 26th. Desjardins increased 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 report on Friday, February 20th. Jefferies Financial Group raised their target price on OceanaGold from C$45.00 to C$53.00 in a research note on Monday, January 19th. Finally, TD Securities boosted their target price on OceanaGold from C$38.00 to C$56.00 in a research report on Thursday, January 22nd.

OceanaGold Trading Down 2.1%

OGC stock traded down C$0.99 during mid-day trading on Tuesday, reaching C$45.62. The company’s stock had a trading volume of 461,020 shares, compared to its average volume of 878,419. OceanaGold has a 12 month low of C$13.86 and a 12 month high of C$59.20. The business’s 50 day moving average price is C$48.60 and its 200 day moving average price is C$41.80. The company has a market cap of C$10.27 billion, a price-to-earnings ratio of 16.96 and a beta of 2.46.

OceanaGold (TSE:OGC) last posted its quarterly earnings results on Wednesday, February 18th. The company reported C$1.21 earnings per share (EPS) for the quarter. The firm had revenue of C$870.81 million for the quarter. OceanaGold had a return on equity of 30.82% and a net margin of 33.30%. As a group, equities analysts expect that OceanaGold will post 0.6283048 EPS for the current fiscal year.

OceanaGold announced that its Board of Directors has approved a share buyback plan on Wednesday, February 18th that permits the company to repurchase $350.00 million in shares. This repurchase authorization permits the company to buy up to 2.9% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

OceanaGold Company Profile

OceanaGold is a growing 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 Haile Gold Mine in the United States of America; Didipio Mine in the Philippines; and the Macraes and Waihi operations in New Zealand.