Raymond James Raises OceanaGold (TSE:OGC) Price Target to C$5.00

OceanaGold (TSE:OGC) had its price objective lifted by Raymond James from C$4.50 to C$5.00 in a research report released on Tuesday, BayStreet.CA reports. Raymond James also issued estimates for OceanaGold’s Q1 2024 earnings at $0.01 EPS, Q2 2024 earnings at $0.10 EPS, Q3 2024 earnings at $0.11 EPS, Q3 2024 earnings at $0.16 EPS, Q4 2024 earnings at $0.16 EPS, Q4 2024 earnings at $0.11 EPS and FY2024 earnings at $0.44 EPS.

Several other research firms have also recently commented on OGC. National Bank Financial restated an outperform overweight rating on shares of OceanaGold in a research note on Monday, April 8th. CIBC boosted their target price on OceanaGold from C$4.50 to C$5.00 and gave the company an outperform rating in a research note on Wednesday, February 7th. Cormark cut their target price on OceanaGold from C$3.25 to C$3.00 in a research note on Monday, February 26th. BMO Capital Markets cut their target price on OceanaGold from C$4.25 to C$3.75 in a research note on Thursday, February 22nd. Finally, Jefferies Financial Group upped their price objective on OceanaGold from C$3.50 to C$4.00 and gave the stock a buy rating in a research note on Monday, April 22nd. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, OceanaGold has an average rating of Buy and a consensus price target of C$4.08.

OceanaGold Price Performance

Shares of OGC opened at C$3.20 on Tuesday. The company has a 50 day simple moving average of C$2.88. OceanaGold has a 52-week low of C$2.08 and a 52-week high of C$3.50. The firm has a market cap of C$2.26 billion, a price-to-earnings ratio of 20.00 and a beta of 1.50.

OceanaGold (TSE:OGC) last released its earnings results on Wednesday, February 21st. The company reported C$0.01 EPS for the quarter, missing the consensus estimate of C$0.02 by C($0.01). The firm had revenue of C$363.94 million during the quarter. OceanaGold had a net margin of 8.10% and a return on equity of 4.88%. As a group, research analysts anticipate that OceanaGold will post 0.2977737 EPS for the current fiscal year.

OceanaGold Dividend Announcement

The business also recently disclosed a Semi-Annual dividend, which was paid on Friday, April 26th. Stockholders of record on Thursday, March 7th were paid a dividend of $0.013 per share. The ex-dividend date was Wednesday, March 6th. OceanaGold’s dividend payout ratio is currently 18.75%.

Insider Buying and Selling

In other OceanaGold news, Director Paul Benson bought 44,400 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The shares were acquired at an average cost of C$2.25 per share, with a total value of C$99,678.00. 0.14% of the stock is owned by insiders.

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.