Oceanagold (NYSE:OGC) Downgraded by Wall Street Zen to “Hold”

Wall Street Zen lowered shares of Oceanagold (NYSE:OGC) from a buy rating to a hold rating in a report published on Saturday morning,Wall Street Zen reports.

A number of other equities research analysts have also recently weighed in on OGC. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Oceanagold in a report on Friday. Zacks Research upgraded Oceanagold from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 8th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Oceanagold in a research note on Friday, September 4th. Two equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy”.

Oceanagold Trading Up 1.4%

Shares of Oceanagold stock opened at $27.02 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.63 and a quick ratio of 1.24. The company has a market capitalization of $5.98 billion and a PE ratio of 13.58. Oceanagold has a 1-year low of $20.18 and a 1-year high of $43.33. The business’s 50-day moving average price is $28.72.

Oceanagold (NYSE:OGC) last posted its earnings results on Wednesday, August 5th. The company reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.05. The company had revenue of $647.30 million during the quarter. Oceanagold had a net margin of 35.14% and a return on equity of 36.44%. As a group, equities research analysts predict that Oceanagold will post 4.22 EPS for the current year.

Oceanagold Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 18th. Shareholders of record on Wednesday, August 19th were issued a dividend of C$0.09 per share. The ex-dividend date of this dividend was Wednesday, August 19th. This represents a $0.36 dividend on an annualized basis and a yield of 1.3%. Oceanagold’s dividend payout ratio is currently 18.09%.

Institutional Investors Weigh In On Oceanagold

Several hedge funds and other institutional investors have recently added to or reduced their stakes in OGC. Bank of New York Mellon Corp acquired a new position in shares of Oceanagold during the second quarter worth approximately $1,701,000. Public Employees Retirement System of Ohio bought a new stake in shares of Oceanagold during the second quarter valued at approximately $14,465,000. The Manufacturers Life Insurance Company bought a new stake in shares of Oceanagold during the second quarter valued at approximately $15,332,000. Groupe la Francaise bought a new stake in shares of Oceanagold during the second quarter valued at approximately $19,560,000. Finally, Sequoia Financial Advisors LLC acquired a new stake in shares of Oceanagold in the second quarter valued at approximately $603,000.

About Oceanagold

OceanaGold Corporation is a multinational mining company focused on the exploration, development and operation of gold and copper assets. Its primary products are gold and copper concentrates, which are produced through open-pit and underground mining operations.

The company operates the Haile Gold Mine in South Carolina, the Didipio gold-copper mine in the Philippines, and the Macraes and Waihi gold operations in New Zealand. It also maintains exploration and development activities intended to extend mine lives and identify additional mineral resources in the regions where it operates.

OceanaGold has a history dating to the 1990s and is headquartered in Vancouver, Canada.