Groupe la Francaise Buys New Position in Oceanagold Corp. $OGC

Groupe la Francaise bought a new stake in shares of Oceanagold Corp. (NYSE:OGC) in the second quarter, Holdings Channel.com reports. The fund bought 780,000 shares of the company’s stock, valued at approximately $19,560,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Nykredit A S acquired a new position in shares of Oceanagold in the 2nd quarter worth approximately $125,000. TD Waterhouse Canada Inc. acquired a new stake in shares of Oceanagold during the second quarter worth $584,000. Bank of New York Mellon Corp bought a new position in Oceanagold during the second quarter worth $1,701,000. Finally, Public Employees Retirement System of Ohio bought a new stake in Oceanagold during the second quarter valued at $14,465,000.

Oceanagold Trading Down 0.0%

OGC opened at $30.60 on Monday. The firm has a fifty day moving average of $26.66. Oceanagold Corp. has a 1-year low of $19.00 and a 1-year high of $43.33. The company has a market capitalization of $6.81 billion and a P/E ratio of 15.38. The company has a current ratio of 1.63, a quick ratio of 1.24 and a debt-to-equity ratio of 0.01.

Oceanagold (NYSE:OGC) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.05. The company had revenue of $647.30 million for the quarter. Oceanagold had a net margin of 35.14% and a return on equity of 36.44%. On average, research analysts forecast that Oceanagold Corp. will post 4.16 EPS for the current fiscal year.

Oceanagold Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Wednesday, August 19th will be issued a $0.09 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $0.36 annualized dividend and a yield of 1.2%. Oceanagold’s dividend payout ratio is presently 18.09%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on OGC. Scotiabank upgraded Oceanagold to a “strong-buy” rating in a report on Thursday, May 14th. Jefferies Financial Group upgraded Oceanagold to a “strong-buy” rating in a research report on Tuesday, June 9th. Wall Street Zen cut Oceanagold from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 22nd. Zacks Research downgraded Oceanagold from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 7th. Finally, Weiss Ratings lowered Oceanagold from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, June 8th. Two equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, Oceanagold currently has an average rating of “Buy”.

Oceanagold Company Profile

OceanaGold Corporation is a gold and copper mining company that explores for, develops, and operates precious metals projects. The company’s portfolio includes producing mines and development assets, with a focus on the extraction and processing of gold and copper from its owned and operated operations.

Founded in 1989, OceanaGold has built a business centered on long-life mineral assets and responsible mining practices. Its operations have historically been located in the Asia-Pacific region, including New Zealand, the Philippines, and the United States, giving it exposure to several established mining jurisdictions.

The company is headquartered in Vancouver, Canada.