OceanaGold (TSE:OGC) Hits New 1-Year High Following Analyst Upgrade

OceanaGold Co. (TSE:OGC) shares hit a new 52-week high during mid-day trading on Thursday after Scotiabank raised their price target on the stock from C$4.75 to C$6.00. The stock traded as high as C$4.45 and last traded at C$4.45, with a volume of 2073172 shares trading hands. The stock had previously closed at C$4.23.

A number of other equities analysts also recently weighed in on OGC. Royal Bank of Canada boosted their target price on shares of OceanaGold from C$5.00 to C$5.50 and gave the stock an “outperform” rating in a research note on Tuesday, September 10th. CIBC dropped their price objective on shares of OceanaGold from C$5.25 to C$4.50 in a research report on Thursday, November 7th. Finally, National Bankshares reduced their price objective on OceanaGold from C$6.00 to C$5.50 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of C$4.93.

OceanaGold Stock Up 5.2 %

The stock’s fifty day moving average is C$3.90 and its 200-day moving average is C$3.53. The stock has a market cap of C$3.17 billion, a price-to-earnings ratio of 445.00 and a beta of 1.62.

OceanaGold (TSE:OGC) last announced its earnings results on Wednesday, November 6th. The company reported C$0.12 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.14 by C($0.02). The company had revenue of C$470.93 million during the quarter. OceanaGold had a return on equity of 0.24% and a net margin of 0.10%. As a group, equities research analysts predict that OceanaGold Co. will post 0.6283048 earnings per share for the current fiscal year.

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.