OceanaGold (TSE:OGC) Insider Brian Douglas Martin Sells 30,000 Shares of Stock

OceanaGold Co. (TSE:OGC) insider Brian Douglas Martin sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of C$40.47, for a total value of C$1,214,100.00. Following the sale, the insider owned 19,363 shares in the company, valued at approximately C$783,620.61. This trade represents a 60.77% decrease in their ownership of the stock.

OceanaGold Stock Performance

OGC opened at C$41.64 on Friday. The stock has a market cap of C$9.32 billion, a price-to-earnings ratio of 12.70 and a beta of 2.54. The stock’s 50 day moving average price is C$43.56 and its 200-day moving average price is C$43.73. OceanaGold Co. has a one year low of C$17.94 and a one year high of C$59.20.

OceanaGold (TSE:OGC) last released its earnings results on Wednesday, May 6th. The company reported C$1.40 EPS for the quarter. The firm had revenue of C$993.37 million for the quarter. OceanaGold had a return on equity of 34.87% and a net margin of 33.78%. As a group, analysts predict that OceanaGold Co. will post 0.6283048 earnings per share for the current fiscal year.

OceanaGold declared that its board has approved a stock repurchase program on Wednesday, February 18th that permits the company to buyback $350.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 2.9% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on OGC. Desjardins lifted their price objective on OceanaGold from C$63.00 to C$65.00 and gave the company a “buy” rating in a report on Friday, February 20th. Canadian Imperial Bank of Commerce lifted their price objective on OceanaGold from C$66.00 to C$72.00 in a report on Thursday, February 26th. TD increased their target price on OceanaGold from C$55.00 to C$56.00 and gave the company a “buy” rating in a research report on Tuesday, April 21st. Finally, Royal Bank Of Canada increased their target price on OceanaGold from C$52.00 to C$78.00 in a research report on Thursday, March 12th. Five investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of C$56.11.

OceanaGold Company Profile

OceanaGold is a global 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 wholly-owned Haile Gold Mine in the United States of America ; the wholly-owned Macraes and Waihi operations in New Zealand ; and the 80%-owned Didipio Mine in the Philippines.