FY2024 EPS Estimates for OceanaGold Reduced by Analyst

OceanaGold Co. (TSE:OGC) – Equities research analysts at National Bank Financial lowered their FY2024 earnings estimates for OceanaGold in a report issued on Tuesday, October 22nd. National Bank Financial analyst M. Parkin now expects that the company will post earnings per share of $0.46 for the year, down from their previous estimate of $0.47. The consensus estimate for OceanaGold’s current full-year earnings is $0.63 per share.

A number of other equities analysts have also recently issued reports on OGC. Desjardins raised their price objective on shares of OceanaGold from C$4.90 to C$5.50 and gave the company a “buy” rating in a research note on Monday, July 22nd. National Bankshares reduced 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 note on Wednesday. Canaccord Genuity Group raised their price objective on shares of OceanaGold from C$4.50 to C$5.50 and gave the company a “strong-buy” rating in a research note on Tuesday, July 23rd. Scotiabank increased their target price on shares of OceanaGold from C$4.25 to C$4.75 in a report on Monday, August 19th. Finally, Royal Bank of Canada increased their target price on shares of OceanaGold from C$5.00 to C$5.50 and gave the stock an “outperform” rating in a report on Tuesday, September 10th. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of C$4.88.

OceanaGold Stock Performance

Shares of OGC stock opened at C$4.06 on Friday. OceanaGold has a 52-week low of C$2.08 and a 52-week high of C$4.41. The stock has a market cap of C$2.89 billion, a PE ratio of 406.00 and a beta of 1.62. The firm’s 50 day moving average price is C$3.75 and its two-hundred day moving average price is C$3.43.

OceanaGold (TSE:OGC) last released its quarterly earnings results on Tuesday, July 30th. The company reported C$0.05 EPS for the quarter, meeting the consensus estimate of C$0.05. OceanaGold had a net margin of 0.10% and a return on equity of 0.24%. The business had revenue of C$343.70 million for the quarter.

OceanaGold Increases Dividend

The business also recently disclosed a Semi-Annual dividend, which was paid on Friday, October 11th. Investors of record on Thursday, August 29th were issued a dividend of $0.014 per share. This is a positive change from OceanaGold’s previous Semi-Annual dividend of $0.01. The ex-dividend date was Thursday, August 29th. OceanaGold’s dividend payout ratio (DPR) is presently 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.