Scotiabank Has Optimistic View of OceanaGold FY2024 Earnings

OceanaGold Co. (TSE:OGC) – Research analysts at Scotiabank raised their FY2024 EPS estimates for shares of OceanaGold in a note issued to investors on Wednesday, January 8th. Scotiabank analyst O. Habib now anticipates that the company will post earnings per share of $0.33 for the year, up from their prior forecast of $0.29. The consensus estimate for OceanaGold’s current full-year earnings is $0.63 per share.

OceanaGold (TSE:OGC) last released its quarterly earnings data on Wednesday, November 6th. The company reported C$0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.14 by C($0.02). OceanaGold had a net margin of 0.10% and a return on equity of 0.24%. The firm had revenue of C$470.93 million for the quarter.

Several other equities analysts have also weighed in on the stock. National Bankshares cut their price objective on shares of OceanaGold from C$6.00 to C$5.50 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. CIBC cut their price target on shares of OceanaGold from C$6.00 to C$5.75 in a report on Friday, December 13th. Finally, Royal Bank of Canada upped their price objective on shares of OceanaGold from C$5.50 to C$6.00 in a report on Friday, December 6th. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of C$5.10.

OceanaGold Price Performance

Shares of OceanaGold stock opened at C$3.98 on Friday. The firm has a market cap of C$2.83 billion, a price-to-earnings ratio of 398.00 and a beta of 1.62. The stock has a 50-day simple moving average of C$4.10 and a 200-day simple moving average of C$3.77. OceanaGold has a 52-week low of C$2.08 and a 52-week high of C$4.57.

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.