OceanaGold (TSE:OGC) Price Target Raised to C$6.50 at Raymond James

OceanaGold (TSE:OGC) had its price objective increased by equities research analysts at Raymond James from C$5.50 to C$6.50 in a research note issued on Friday,BayStreet.CA reports. Raymond James’ price target would suggest a potential upside of 46.73% from the stock’s current price.

A number of other equities analysts also recently commented on OGC. BMO Capital Markets lowered their price objective on OceanaGold from C$6.25 to C$5.75 in a research report on Thursday, February 20th. Scotiabank lifted their target price on OceanaGold from C$6.00 to C$6.25 in a research report on Wednesday, January 15th. CIBC cut their price target on OceanaGold from C$6.00 to C$5.75 in a research report on Friday, December 13th. TD Securities downgraded OceanaGold from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 27th. Finally, Royal Bank of Canada raised their price objective on shares of OceanaGold from C$5.50 to C$6.00 in a research report on Friday, December 6th. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of C$5.75.

OceanaGold Stock Performance

Shares of OGC traded down C$0.26 during mid-day trading on Friday, hitting C$4.43. 1,263,150 shares of the company’s stock were exchanged, compared to its average volume of 2,129,458. OceanaGold has a fifty-two week low of C$2.89 and a fifty-two week high of C$4.83. The company has a market cap of C$2.20 billion, a price-to-earnings ratio of 35.93 and a beta of 1.62. The stock’s 50-day moving average is C$4.29 and its 200-day moving average is C$4.10.

Insider Activity

In other OceanaGold news, Senior Officer Liang Tang sold 50,000 shares of the company’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of C$4.38, for a total value of C$219,000.00. Company insiders own 0.15% of the company’s stock.

About OceanaGold

OceanaGold Corporation, a gold and copper producer, engages in exploration, development, and operation of mineral properties in the United States, the Philippines, and New Zealand. It explores for gold, copper, and silver deposits. OceanaGold Corporation was founded in 2003 and is based in Vancouver, Canada.