OceanaGold (TSE:OGC) Hits New 1-Year High After Analyst Upgrade

OceanaGold Co. (TSE:OGC)’s stock price hit a new 52-week high during trading on Monday after Scotiabank raised their price target on the stock from C$44.00 to C$65.00. The company traded as high as C$52.70 and last traded at C$52.26, with a volume of 68382 shares. The stock had previously closed at C$50.59.

Other research analysts have also issued reports about the stock. Desjardins set a C$50.00 target price on shares of OceanaGold and gave the stock a “buy” rating in a research report on Friday, November 28th. Canaccord Genuity Group lifted their price target on OceanaGold from C$25.00 to C$36.00 in a research note on Thursday, October 2nd. Jefferies Financial Group increased their price objective on OceanaGold from C$45.00 to C$53.00 in a research report on Monday, January 19th. CIBC raised their price objective on OceanaGold from C$30.00 to C$50.00 in a report on Friday, October 10th. Finally, TD Securities upped their target price on OceanaGold from C$38.00 to C$56.00 in a research note on Thursday. One investment analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of C$42.81.

OceanaGold Stock Performance

The stock’s 50-day moving average price is C$39.14 and its two-hundred day moving average price is C$31.16. The stock has a market capitalization of C$11.85 billion, a PE ratio of 30.35 and a beta of 1.85.

OceanaGold (TSE:OGC) last issued its quarterly earnings results on Wednesday, November 5th. The company reported C$0.40 earnings per share (EPS) for the quarter. The company had revenue of C$624.50 million during the quarter. OceanaGold had a net margin of 5.86% and a return on equity of 3.82%. On average, analysts predict that OceanaGold Co. will post 0.6283048 earnings per share for the current fiscal year.

About OceanaGold

OceanaGold is a growing intermediate gold and copper producer committed to safely and responsibly maximizing the generation of Free Cash Flow from our operations and delivering strong returns for our shareholders. We have a portfolio of four operating mines: the Haile Gold Mine in the United States of America; Didipio Mine in the Philippines; and the Macraes and Waihi operations in New Zealand.