OceanaGold Co. to Post FY2016 Earnings of $0.27 Per Share, National Bank Financial Forecasts (OGC)
OceanaGold Co. (TSE:OGC) – Equities researchers at National Bank Financial cut their FY2016 earnings per share (EPS) estimates for shares of OceanaGold in a report issued on Wednesday. National Bank Financial analyst R. Ray now expects that the brokerage will earn $0.27 per share for the year, down from their prior forecast of $0.28. National Bank Financial also issued estimates for OceanaGold’s FY2017 earnings at $0.37 EPS.
Several other brokerages also recently commented on OGC. Scotiabank restated a “sector perform” rating and issued a C$6.25 target price on shares of OceanaGold in a research note on Friday, July 29th. Barclays PLC started coverage on OceanaGold in a research note on Friday, July 8th. They issued an “equal weight” rating and a C$6.00 target price for the company. BMO Capital Markets restated a “market perform” rating and issued a C$6.00 target price on shares of OceanaGold in a research note on Wednesday, September 7th. Finally, Raymond James Financial Inc. raised their target price on OceanaGold from C$5.20 to C$6.00 in a research note on Monday, June 27th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of C$5.13.
Shares of OceanaGold (TSE:OGC) opened at 3.71 on Monday. The company has a market cap of $2.26 billion and a price-to-earnings ratio of 21.95. OceanaGold has a 1-year low of $2.25 and a 1-year high of $5.56. The firm has a 50-day moving average price of $4.25 and a 200 day moving average price of $4.39.
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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