Raymond James Equities Analysts Increase Earnings Estimates for OceanaGold Co. (TSE:OGC)

OceanaGold Co. (TSE:OGC) – Research analysts at Raymond James raised their Q3 2024 earnings estimates for shares of OceanaGold in a research report issued on Monday, September 23rd. Raymond James analyst F. Hamed now anticipates that the company will post earnings of $0.18 per share for the quarter, up from their previous forecast of $0.15. The consensus estimate for OceanaGold’s current full-year earnings is $0.62 per share. Raymond James also issued estimates for OceanaGold’s Q4 2024 earnings at $0.19 EPS and FY2024 earnings at $0.41 EPS.

A number of other equities research analysts also recently issued reports on OGC. Desjardins increased their target price on shares of OceanaGold from C$4.90 to C$5.50 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Royal Bank of Canada lifted their price target on OceanaGold from C$5.00 to C$5.50 and gave the company an “outperform” rating in a report on Tuesday, September 10th. National Bankshares lifted their target price on shares of OceanaGold from C$4.50 to C$5.00 and gave the company an “outperform” rating in a research note on Wednesday, July 17th. CIBC increased their price target on shares of OceanaGold from C$5.00 to C$5.25 in a research note on Wednesday, July 10th. Finally, Jefferies Financial Group upped their price objective on shares of OceanaGold from C$4.00 to C$5.00 in a report on Friday, July 12th. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, OceanaGold has a consensus rating of “Buy” and a consensus price target of C$4.83.

OceanaGold Price Performance

TSE OGC opened at C$3.93 on Wednesday. The company has a 50 day simple moving average of C$3.57 and a 200-day simple moving average of C$3.28. OceanaGold has a 52-week low of C$2.08 and a 52-week high of C$4.18. The firm has a market capitalization of C$2.80 billion, a price-to-earnings ratio of 393.00 and a beta of 1.61.

OceanaGold (TSE:OGC) last announced its quarterly earnings data on Tuesday, July 30th. The company reported C$0.05 earnings per share (EPS) for the quarter, hitting the consensus estimate of C$0.05. OceanaGold had a return on equity of 0.24% and a net margin of 0.10%. The firm had revenue of C$343.70 million during the quarter.

OceanaGold Increases Dividend

The firm also recently disclosed a Semi-Annual dividend, which will be paid on Friday, October 11th. Investors of record on Thursday, August 29th will be given a dividend of $0.014 per share. The ex-dividend date is Thursday, August 29th. This is a boost from OceanaGold’s previous Semi-Annual dividend of $0.01. OceanaGold’s payout ratio is currently 300.00%.

OceanaGold Company Profile

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.