OceanaGold (TSE:OGC) Issues Quarterly Earnings Results

OceanaGold (TSE:OGC) issued its quarterly earnings results on Wednesday. The company reported C$1.39 earnings per share (EPS) for the quarter, FiscalAI reports. OceanaGold had a net margin of 33.78% and a return on equity of 34.87%. The firm had revenue of C$919.67 million for the quarter.

OceanaGold Stock Up 6.8%

OGC traded up C$2.40 during trading on Wednesday, hitting C$37.67. The company’s stock had a trading volume of 784,141 shares, compared to its average volume of 854,635. OceanaGold has a twelve month low of C$19.36 and a twelve month high of C$59.20. The stock’s fifty day moving average price is C$35.79 and its 200-day moving average price is C$43.11. The firm has a market capitalization of C$8.38 billion, a P/E ratio of 11.48 and a beta of 2.70.

Analyst Upgrades and Downgrades

Separately, TD increased their price objective 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 research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of C$60.12.

Insider Activity at OceanaGold

In other news, insider Brian Douglas Martin sold 30,000 shares of the firm’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 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 currently 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.