OceanaGold Co. (OGC) Rating Increased to Overweight at Royal Bank Of Canada
OceanaGold Co. (TSE:OGC) was upgraded by Royal Bank Of Canada from an “equal weight” rating to an “overweight” rating in a research note issued to investors on Monday.
Several other equities research analysts also recently commented on the stock. Scotiabank reiterated an “outperform” rating and set a C$6.50 price objective on shares of OceanaGold in a research note on Wednesday, September 28th. Barclays PLC initiated coverage on shares of OceanaGold in a research note on Friday, July 8th. They set an “equal weight” rating and a C$6.00 price objective for the company. Raymond James Financial Inc. lifted their price objective on shares of OceanaGold from C$5.20 to C$6.00 in a research note on Monday, June 27th. National Bank Financial lifted their price objective on shares of OceanaGold from C$6.00 to C$6.50 in a research note on Wednesday, July 13th. Finally, BMO Capital Markets reiterated a “market perform” rating and set a C$6.00 price objective on shares of OceanaGold in a research note on Wednesday, September 7th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. OceanaGold has a consensus rating of “Hold” and an average price target of C$5.13.
OceanaGold (TSE:OGC) traded up 0.81% on Monday, hitting $3.74. 675,726 shares of the company’s stock traded hands. The stock has a 50-day moving average of $4.25 and a 200-day moving average of $4.39. OceanaGold has a one year low of $2.25 and a one year high of $5.56. The stock has a market cap of $2.28 billion and a PE ratio of 22.13.
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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