Oceanagold (NYSE:OGC) Upgraded to “Buy” at Wall Street Zen

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

Several other equities analysts also recently issued reports on OGC. Jefferies Financial Group raised shares of Oceanagold to a “strong-buy” rating in a report on Tuesday, June 9th. Weiss Ratings restated a “buy (b-)” rating on shares of Oceanagold in a research report on Friday, September 4th. Finally, Zacks Research raised shares of Oceanagold from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 8th. Two equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy”.

Oceanagold Price Performance

Oceanagold stock opened at $27.08 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.63 and a debt-to-equity ratio of 0.01. The business’s fifty day moving average is $28.43. Oceanagold has a 52-week low of $20.18 and a 52-week high of $43.33. The firm has a market capitalization of $6.00 billion and a price-to-earnings ratio of 13.61.

Oceanagold (NYSE:OGC) last issued its quarterly earnings data 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. Oceanagold had a return on equity of 36.44% and a net margin of 35.14%.The company had revenue of $647.30 million during the quarter. On average, equities research analysts predict that Oceanagold will post 4.17 EPS for the current fiscal year.

Oceanagold Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 18th. Shareholders of record on Wednesday, August 19th were paid a C$0.09 dividend. 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 payout ratio is currently 18.09%.

Institutional Trading of Oceanagold

Several large investors have recently made changes to their positions in the business. Nykredit A S bought a new position in Oceanagold in the 2nd quarter worth approximately $125,000. Engineers Gate Manager LP acquired a new position in Oceanagold in the second quarter valued at about $337,000. Tidal Investments LLC acquired a new stake in shares of Oceanagold in the 2nd quarter valued at approximately $355,000. TD Waterhouse Canada Inc. bought a new position in Oceanagold during the 2nd quarter worth approximately $584,000. Finally, Sequoia Financial Advisors LLC bought a new position in Oceanagold during the 2nd quarter worth 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.