Scotiabank Reaffirms Outperform Rating for OceanaGold Co. (OGC)
OceanaGold Co. (TSE:OGC)‘s stock had its “outperform” rating reissued by investment analysts at Scotiabank in a report released on Wednesday. They presently have a C$6.50 target price on the stock. Scotiabank’s target price would suggest a potential upside of 55.88% from the stock’s current price.
A number of other research firms have also weighed in on OGC. Barclays PLC assumed coverage on OceanaGold in a research note on Friday, July 8th. They issued an “equal weight” rating and a C$6.00 target price on the stock. National Bank Financial increased their price target on OceanaGold from C$6.00 to C$6.50 in a research report on Wednesday, July 13th. BMO Capital Markets reissued a “market perform” rating and set a C$6.00 price target on shares of OceanaGold in a research report on Wednesday, September 7th. Raymond James Financial Inc. increased their price target on OceanaGold from C$5.20 to C$6.00 in a research report on Monday, June 27th. Finally, Royal Bank Of Canada raised OceanaGold from an “equal weight” rating to an “overweight” rating in a research report on Monday. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of C$5.13.
Shares of OceanaGold (TSE:OGC) traded up 3.99% during trading on Wednesday, reaching $4.17. The company’s stock had a trading volume of 2,770,079 shares. The stock has a market capitalization of $2.54 billion and a PE ratio of 24.67. The firm’s 50-day moving average is $4.22 and its 200-day moving average is $4.40. OceanaGold has a 12-month low of $2.25 and a 12-month high of $5.56.
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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