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

Oceanagold (NYSE:OGC) released its quarterly earnings data on Wednesday. The company reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.05, Zacks reports.

Oceanagold Stock Up 7.8%

Shares of OGC stock opened at $26.93 on Thursday. Oceanagold has a 52 week low of $14.19 and a 52 week high of $43.33. The company has a market cap of $5.99 billion and a P/E ratio of 26.66. The business’s 50-day moving average is $25.44.

Wall Street Analysts Forecast Growth

OGC has been the subject of several recent analyst reports. Scotiabank upgraded shares of Oceanagold to a “strong-buy” rating in a research note on Thursday, May 14th. Jefferies Financial Group raised Oceanagold to a “strong-buy” rating in a research report on Tuesday, June 9th. Weiss Ratings lowered Oceanagold from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, June 8th. Finally, Zacks Research cut Oceanagold from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 7th. Two investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy”.

OceanaGold Corporation is a gold and copper mining company that explores for, develops, and operates precious metals projects. The company’s portfolio includes producing mines and development assets, with a focus on the extraction and processing of gold and copper from its owned and operated operations.

Founded in 1989, OceanaGold has built a business centered on long-life mineral assets and responsible mining practices. Its operations have historically been located in the Asia-Pacific region, including New Zealand, the Philippines, and the United States, giving it exposure to several established mining jurisdictions.

The company is headquartered in Vancouver, Canada.