OceanaGold Co. (TSE:OGC) Given Average Recommendation of “Buy” by Analysts

OceanaGold Co. (TSE:OGC) has earned an average rating of “Buy” from the five research firms that are covering the company, MarketBeat reports. Five equities research analysts have rated the stock with a buy rating. The average 12-month target price among brokers that have issued ratings on the stock in the last year is C$56.11.

A number of equities analysts have issued reports on the company. Canadian Imperial Bank of Commerce increased their price objective on OceanaGold from C$66.00 to C$72.00 in a report on Thursday, February 26th. Royal Bank Of Canada raised their price target on OceanaGold from C$52.00 to C$78.00 in a report on Thursday, March 12th. TD raised their price target on OceanaGold from C$55.00 to C$56.00 and gave the company a “buy” rating in a report on Tuesday, April 21st. Finally, Desjardins raised their price target on OceanaGold from C$63.00 to C$65.00 and gave the company a “buy” rating in a report on Friday, February 20th.

Insider Buying and Selling at OceanaGold

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

OceanaGold Trading Down 4.2%

OGC opened at C$34.93 on Wednesday. The stock has a fifty day simple moving average of C$43.07 and a two-hundred day simple moving average of C$43.96. The company has a market cap of C$7.82 billion, a price-to-earnings ratio of 10.65 and a beta of 2.58. OceanaGold has a 12-month low of C$18.45 and a 12-month high of C$59.20.

OceanaGold (TSE:OGC) last posted its quarterly earnings data on Wednesday, May 6th. The company reported C$1.40 earnings per share (EPS) for the quarter. The business had revenue of C$993.37 million during the quarter. OceanaGold had a return on equity of 34.87% and a net margin of 33.78%. On average, analysts predict that OceanaGold will post 0.6283048 EPS for the current year.

OceanaGold declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, February 18th that authorizes the company to buyback $350.00 million in shares. This buyback authorization authorizes the company to repurchase up to 2.9% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

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.