OceanaGold’s (OGC) Outperform Rating Reaffirmed at Scotiabank
Scotiabank reiterated their outperform rating on shares of OceanaGold Co. (TSE:OGC) in a research note issued to investors on Wednesday morning. Scotiabank currently has a C$6.50 price objective on the stock.
A number of other equities analysts have also recently issued reports on OGC. Raymond James Financial Inc. lifted their target price on OceanaGold from C$5.20 to C$6.00 in a report on Monday, June 27th. Barclays PLC started coverage on OceanaGold in a report on Friday, July 8th. They issued an equal weight rating and a C$6.00 target price on the stock. National Bank Financial lifted their target price on OceanaGold from C$6.00 to C$6.50 in a report on Wednesday, July 13th. Finally, BMO Capital Markets restated a market perform rating and issued a C$6.00 target price on shares of OceanaGold in a report on Wednesday, September 7th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of Hold and an average target price of C$5.13.
Shares of OceanaGold (TSE:OGC) opened at 3.69 on Wednesday. The stock has a 50 day moving average price of $4.44 and a 200-day moving average price of $4.39. OceanaGold has a 1-year low of $2.19 and a 1-year high of $5.56. The firm has a market cap of $2.25 billion and a price-to-earnings ratio of 21.83.
OceanaGold Company Profile
OceanaGold Corporation is an Australia-based gold mining and exploration company. The Company is engaged in the production of gold. The Company operates through three segments: New Zealand, the Philippines and the USA. Its asset portfolio consists of the Macraes Operations (Macraes), which include the operating Macraes open pit gold mines and Frasers underground gold mine; the Didipio Operations (Didipio), which includes an open pit that commenced commercial production, and an underground mine; the Waihi Gold Mine Operation (Waihi), which includes the Martha open pit and Correnso underground gold mine, and the Haile Gold Mine Project (Haile).
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