OceanaGold (TSE:OGC) Stock Price Up 4.1% – Here’s What Happened

OceanaGold Co. (TSE:OGC) was up 4.1% during trading on Thursday . The company traded as high as C$37.49 and last traded at C$37.02. 623,587 shares were traded during mid-day trading, a decline of 28% from the average session volume of 865,996 shares. The stock had previously closed at C$35.55.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on OGC shares. TD upped their price objective on shares of OceanaGold from C$55.00 to C$56.00 and gave the company a “buy” rating in a research note on Tuesday, April 21st. Royal Bank Of Canada boosted their target price on OceanaGold from C$52.00 to C$78.00 in a report on Thursday, March 12th. Four analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of C$60.12.

OceanaGold Price Performance

The business’s 50-day moving average price is C$39.95 and its 200-day moving average price is C$44.10. The firm has a market capitalization of C$8.28 billion, a PE ratio of 11.29 and a beta of 2.58.

OceanaGold (TSE:OGC) last released its quarterly earnings results on Wednesday, May 6th. The company reported C$1.40 EPS for the quarter. The firm had revenue of C$993.37 million during the quarter. OceanaGold had a net margin of 33.78% and a return on equity of 34.87%. Equities analysts forecast that OceanaGold Co. will post 0.6283048 earnings per share for the current year.

Insider Buying and Selling

In other OceanaGold news, insider Brian Douglas Martin sold 30,000 shares of OceanaGold stock in a transaction on Thursday, May 28th. The shares were sold at an average price of C$40.47, for a total value of C$1,214,100.00. Following the transaction, the insider directly owned 19,363 shares in the company, valued at approximately C$783,620.61. The trade was a 60.77% decrease in their ownership of the stock. Corporate insiders own 0.15% of the company’s stock.

OceanaGold Company Profile

OceanaGold is a global intermediate gold and copper producer committed to safely and responsibly maximizing the generation of Free Cash Flow from our operations and delivering strong returns for our shareholders. We have a portfolio of four operating mines: the wholly-owned Haile Gold Mine in the United States of America ; the wholly-owned Macraes and Waihi operations in New Zealand ; and the 80%-owned Didipio Mine in the Philippines.