Oceanagold (NYSE:OGC) Stock Crosses Above Fifty Day Moving Average – What’s Next?

Oceanagold Corp. (NYSE:OGC) passed above its 50 day moving average during trading on Friday. The stock has a 50 day moving average of $27.47 and traded as high as $27.98. Oceanagold shares last traded at $27.9460, with a volume of 712,458 shares traded.

Analyst Ratings Changes

A number of analysts have weighed in on OGC shares. Wall Street Zen downgraded shares of Oceanagold from a “buy” rating to a “hold” rating in a research report on Saturday, October 17th. Zacks Research cut shares of Oceanagold from a “hold” rating to a “strong sell” rating in a research report on Monday, November 2nd. Weiss Ratings reissued a “buy (b-)” rating on shares of Oceanagold in a research report on Friday, September 4th. Finally, Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Oceanagold in a research note on Friday, October 16th. Two 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 company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy”.

Oceanagold Stock Performance

The stock has a market cap of $6.16 billion and a P/E ratio of 14.04. 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 business has a 50 day simple moving average of $27.47.

Oceanagold (NYSE:OGC) last released its earnings results on Wednesday, November 4th. The company reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.05. Oceanagold had a return on equity of 36.44% and a net margin of 35.14%. The company had revenue of $654.90 million for the quarter. Equities research analysts forecast that Oceanagold Corp. will post 4.07 EPS for the current year.

Oceanagold Announces Dividend

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

Institutional Trading of Oceanagold

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp purchased a new position in Oceanagold during the 2nd quarter worth approximately $1,701,000. Public Employees Retirement System of Ohio bought a new stake in Oceanagold during the second quarter worth approximately $14,465,000. The Manufacturers Life Insurance Company bought a new stake in Oceanagold during the 2nd quarter valued at approximately $15,332,000. U S Global Investors Inc. bought a new position in Oceanagold in the third quarter valued at about $1,377,000. Finally, Ninety One UK Ltd bought a new stake in Oceanagold during the third quarter worth $63,288,000.

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.