OceanaGold (TSE:OGC) Trading Up 4.1% – What’s Next?

OceanaGold Co. (TSE:OGC) was up 4.1% on Thursday . The company traded as high as C$37.49 and last traded at C$37.02. Approximately 623,587 shares changed hands during mid-day trading, a decline of 28% from the average daily volume of 865,996 shares. The stock had previously closed at C$35.55.

Analysts Set New Price Targets

Several brokerages have recently issued reports on OGC. Royal Bank Of Canada lifted their price objective on shares of OceanaGold from C$52.00 to C$78.00 in a research note on Thursday, March 12th. TD lifted their price target on shares of OceanaGold from C$55.00 to C$56.00 and gave the stock a “buy” rating in a research report on Tuesday, April 21st. Four equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, OceanaGold currently has an average rating of “Buy” and an average target price of C$60.12.

OceanaGold Price Performance

The firm has a market cap of C$8.49 billion, a PE ratio of 11.57 and a beta of 2.71. The business has a fifty day moving average price of C$39.78 and a two-hundred day moving average price of C$44.06.

OceanaGold (TSE:OGC) last released its earnings results on Wednesday, May 6th. The company reported C$1.40 earnings per share for the quarter. The company 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, sell-side analysts forecast that OceanaGold Co. will post 0.6283048 EPS for the current fiscal year.

Insider Activity

In other OceanaGold news, insider Brian Douglas Martin sold 30,000 shares of OceanaGold stock in a transaction on Thursday, May 28th. The shares were sold at an average price of C$40.47, for a total transaction of C$1,214,100.00. Following the completion of the sale, the insider owned 19,363 shares of the company’s stock, valued at C$783,620.61. This trade represents a 60.77% decrease in their position. 0.15% of the stock is owned by company insiders.

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.