OceanaGold (OTCMKTS:OCANF) Shares Up 4.7% – Time to Buy?

OceanaGold Co. (OTCMKTS:OCANF)’s stock price shot up 4.7% during trading on Monday . The company traded as high as $29.75 and last traded at $29.41. 16,055 shares traded hands during mid-day trading, an increase of 8% from the average session volume of 14,927 shares. The stock had previously closed at $28.10.

Wall Street Analysts Forecast Growth

OCANF has been the topic of several recent analyst reports. Jefferies Financial Group reiterated a “buy” rating on shares of OceanaGold in a research report on Sunday, December 7th. Scotiabank restated an “outperform” rating on shares of OceanaGold in a research note on Thursday, October 23rd. Finally, Raymond James Financial reaffirmed an “outperform” rating on shares of OceanaGold in a report on Friday, October 10th. Seven investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy”.

OceanaGold Price Performance

The stock’s fifty day simple moving average is $25.66 and its 200-day simple moving average is $20.47.

About OceanaGold

OceanaGold Corporation is an international gold and copper producer headquartered in Melbourne, Australia. The company focuses on the exploration, development and operation of open pit and underground mines across the Asia–Pacific and North America regions. Its core operations include the Didipio mine in the Philippines, the Macraes and Waihi gold mines in New Zealand and the Haile gold mine in South Carolina, United States. OceanaGold’s portfolio spans proven reserves, near?mine development projects and exploration tenements, providing a balanced mix of production and growth assets.

Founded in 2005 as a spin-off from Placer Dome, OceanaGold has grown through strategic acquisitions and organic development.