Raymond James Raises OceanaGold (TSE:OGC) Price Target to C$5.00

OceanaGold (TSE:OGC) had its price objective boosted by Raymond James from C$4.50 to C$5.00 in a research report sent to investors on Tuesday morning, BayStreet.CA reports. Raymond James also issued estimates for OceanaGold’s Q1 2024 earnings at $0.01 EPS, Q3 2024 earnings at $0.11 EPS, Q3 2024 earnings at $0.16 EPS, Q4 2024 earnings at $0.16 EPS and Q4 2024 earnings at $0.11 EPS.

A number of other research firms have also recently issued reports on OGC. Desjardins increased their price target on OceanaGold from C$3.50 to C$4.00 and gave the stock a buy rating in a report on Tuesday, January 30th. Jefferies Financial Group increased their price target on OceanaGold from C$3.50 to C$4.00 and gave the stock a buy rating in a report on Monday. National Bank Financial restated an outperform overweight rating on shares of OceanaGold in a report on Monday, April 8th. CIBC increased their target price on OceanaGold from C$4.50 to C$5.00 and gave the stock an outperform rating in a report on Wednesday, February 7th. Finally, BMO Capital Markets cut their target price on OceanaGold from C$4.25 to C$3.75 in a report on Thursday, February 22nd. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, OceanaGold has an average rating of Buy and a consensus target price of C$4.08.

OceanaGold Price Performance

TSE:OGC opened at C$3.13 on Tuesday. The firm has a market cap of C$2.21 billion, a P/E ratio of 19.56 and a beta of 1.50. The firm’s 50 day moving average price is C$2.87. OceanaGold has a fifty-two week low of C$2.08 and a fifty-two week high of C$3.50.

OceanaGold (TSE:OGC) last released its earnings results on Wednesday, February 21st. The company reported C$0.01 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.02 by C($0.01). The firm had revenue of C$363.94 million for the quarter. OceanaGold had a net margin of 8.10% and a return on equity of 4.88%. As a group, research analysts expect that OceanaGold will post 0.2977737 EPS for the current fiscal year.

OceanaGold Dividend Announcement

The business also recently disclosed a Semi-Annual dividend, which will be paid on Friday, April 26th. Shareholders of record on Thursday, March 7th will be paid a dividend of $0.013 per share. The ex-dividend date is Wednesday, March 6th. OceanaGold’s dividend payout ratio (DPR) is presently 18.75%.

Insider Buying and Selling at OceanaGold

In related news, Director Paul Benson acquired 44,400 shares of the company’s stock in a transaction on Tuesday, February 27th. The shares were acquired at an average cost of C$2.25 per share, for a total transaction of C$99,678.00. Company insiders own 0.14% 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.