Scotiabank Increases OceanaGold (TSE:OGC) Price Target to C$6.00

OceanaGold (TSE:OGC) had its price target raised by investment analysts at Scotiabank from C$4.75 to C$6.00 in a research report issued on Thursday,BayStreet.CA reports. Scotiabank’s target price suggests a potential upside of 35.14% from the stock’s current price.

Other equities research analysts also recently issued research reports about the company. Royal Bank of Canada lifted their target price on OceanaGold from C$5.00 to C$5.50 and gave the stock an “outperform” rating in a report on Tuesday, September 10th. CIBC decreased their price target on OceanaGold from C$5.25 to C$4.50 in a report on Thursday, November 7th. Finally, National Bankshares decreased their price target on OceanaGold from C$6.00 to C$5.50 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of C$4.93.

OceanaGold Stock Performance

Shares of OGC stock opened at C$4.44 on Thursday. OceanaGold has a fifty-two week low of C$2.08 and a fifty-two week high of C$4.51. The firm has a market capitalization of C$3.16 billion, a price-to-earnings ratio of 444.00 and a beta of 1.62. The stock’s 50-day simple moving average is C$3.92 and its 200-day simple moving average is C$3.53.

OceanaGold (TSE:OGC) last issued its quarterly 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). OceanaGold had a return on equity of 0.24% and a net margin of 0.10%. The business had revenue of C$470.93 million for the quarter. As a group, equities analysts forecast that OceanaGold will post 0.6283048 earnings per share for the current 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.