OceanaGold (TSE:OGC) Reaches New 1-Year High at $4.18

OceanaGold Co. (TSE:OGC)’s share price hit a new 52-week high during trading on Thursday . The stock traded as high as C$4.18 and last traded at C$3.94, with a volume of 2354264 shares changing hands. The stock had previously closed at C$3.97.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on OGC. Desjardins lifted their target price on 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 boosted their price objective on shares of OceanaGold from C$5.00 to C$5.50 and gave the company an “outperform” rating in a research report on Tuesday, September 10th. Jefferies Financial Group raised their target price on shares of OceanaGold from C$4.00 to C$5.00 in a research report on Friday, July 12th. Canaccord Genuity Group increased their price objective on OceanaGold from C$4.50 to C$5.50 and gave the stock a “strong-buy” rating in a research note on Tuesday, July 23rd. Finally, National Bankshares lifted their target price on OceanaGold from C$4.50 to C$5.00 and gave the company an “outperform” rating in a research report on Wednesday, July 17th. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, OceanaGold has a consensus rating of “Buy” and an average target price of C$4.83.

OceanaGold Price Performance

The business has a 50-day moving average of C$3.54 and a two-hundred day moving average of C$3.24. The company has a market cap of C$2.80 billion, a P/E ratio of 394.00 and a beta of 1.61.

OceanaGold (TSE:OGC) last released its quarterly earnings results on Tuesday, July 30th. The company reported C$0.05 earnings per share for the quarter, meeting analysts’ consensus estimates of C$0.05. The business had revenue of C$343.70 million for the quarter. OceanaGold had a net margin of 0.10% and a return on equity of 0.24%. Equities analysts anticipate that OceanaGold Co. will post 0.5957821 EPS for the current fiscal year.

OceanaGold Increases Dividend

The company also recently declared a Semi-Annual dividend, which will be paid on Friday, October 11th. Shareholders of record on Thursday, August 29th will be issued a $0.014 dividend. This is a positive change from OceanaGold’s previous Semi-Annual dividend of $0.01. The ex-dividend date is Thursday, August 29th. OceanaGold’s payout ratio is currently 300.00%.

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.