Oceanagold (NYSE:OGC) Posts Quarterly Earnings Results, Beats Estimates By $0.05 EPS

Oceanagold (NYSE:OGC) released its earnings results on Wednesday. The company reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.05, Zacks reports. The business had revenue of $654.90 million for the quarter. Oceanagold had a return on equity of 36.44% and a net margin of 35.14%.

Oceanagold Trading Up 6.2%

OGC stock traded up $1.59 during mid-day trading on Thursday, reaching $27.37. The company’s stock had a trading volume of 1,013,984 shares, compared to its average volume of 338,710. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.24 and a current ratio of 1.63. The company’s 50 day moving average price is $27.61. Oceanagold has a fifty-two week low of $20.18 and a fifty-two week high of $43.33. The stock has a market cap of $6.03 billion and a PE ratio of 13.75.

Oceanagold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 18th. Shareholders of record on Wednesday, November 18th will be issued a $0.09 dividend. The ex-dividend date is Wednesday, November 18th. This represents a $0.36 dividend on an annualized basis and a yield of 1.3%. Oceanagold’s dividend payout ratio is presently 18.09%.

Wall Street Analyst Weigh In

OGC has been the subject of several research reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of Oceanagold in a research report on Friday, September 4th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Oceanagold in a research note on Friday, October 16th. Wall Street Zen lowered Oceanagold from a “buy” rating to a “hold” rating in a report on Saturday, October 17th. Finally, Zacks Research cut shares of Oceanagold from a “hold” rating to a “strong sell” rating in a research note on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Oceanagold currently has an average rating of “Buy”.

Oceanagold Company Profile

OceanaGold Corporation is a Canadian precious-metals mining company headquartered in Vancouver, British Columbia. The company explores, develops and operates mines that produce gold and, in some operations, copper concentrates.

OceanaGold’s principal assets have included the Haile Gold Mine in South Carolina, the Didipio gold-copper mine in the Philippines, and gold operations in New Zealand, including the Waihi and Macraes mines. Its operations and projects have given the company a presence across North America, Asia and Oceania.

Founded in 2003, OceanaGold has grown through the development and acquisition of producing mines and mineral projects.