Oceanagold (NYSE:OGC) Stock Rating Lowered by Wall Street Zen

Oceanagold (NYSE:OGC) was downgraded by research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report issued on Saturday.

A number of other research analysts have also recently issued reports on OGC. Jefferies Financial Group raised Oceanagold to a “strong-buy” rating in a report on Tuesday, June 9th. Scotiabank upgraded shares of Oceanagold to a “strong-buy” rating in a research report on Thursday, May 14th. Zacks Research downgraded shares of Oceanagold from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 7th. Finally, Weiss Ratings lowered shares of Oceanagold from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, June 8th. Two investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy”.

Oceanagold Stock Performance

Shares of OGC opened at $31.03 on Friday. The company has a fifty day simple moving average of $25.85. The company has a current ratio of 1.63, a quick ratio of 1.24 and a debt-to-equity ratio of 0.01. Oceanagold has a 52-week low of $16.50 and a 52-week high of $43.33. The company has a market cap of $6.90 billion and a P/E ratio of 15.59.

Oceanagold (NYSE:OGC) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.05. The company had revenue of $647.30 million for the quarter. Oceanagold had a return on equity of 36.44% and a net margin of 35.14%. As a group, research analysts predict that Oceanagold will post 4.16 EPS for the current fiscal year.

Hedge Funds Weigh In On Oceanagold

Several hedge funds have recently added to or reduced their stakes in the company. TD Waterhouse Canada Inc. bought a new stake in Oceanagold during the 2nd quarter worth about $584,000. Nykredit A S acquired a new position in Oceanagold during the 2nd quarter valued at about $125,000. Bank of New York Mellon Corp acquired a new position in Oceanagold during the 2nd quarter valued at about $1,701,000. Finally, Public Employees Retirement System of Ohio bought a new position in shares of Oceanagold in the 2nd quarter valued at about $14,465,000.

Oceanagold Company Profile

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.