Oceanagold (NYSE:OGC) Rating Lowered to “Strong Sell” at Zacks Research

Oceanagold (NYSE:OGC) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Monday, Zacks reports.

Other analysts have also recently issued research reports about the company. Wall Street Zen cut Oceanagold from a “buy” rating to a “hold” rating in a research report on Saturday, October 17th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Oceanagold in a report on Friday, October 16th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Oceanagold in a research note on Friday, September 4th. Two analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy”.

Oceanagold Trading Down 3.0%

Shares of Oceanagold stock opened at $23.62 on Monday. The company’s 50 day moving average is $27.72. The firm has a market cap of $5.21 billion and a price-to-earnings ratio of 11.87. Oceanagold has a 12-month low of $20.18 and a 12-month high of $43.33. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.63 and a quick ratio of 1.24.

Oceanagold (NYSE:OGC) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.98 EPS for the quarter, topping the consensus estimate of $0.93 by $0.05. Oceanagold had a net margin of 35.14% and a return on equity of 36.44%. The business had revenue of $647.30 million during the quarter. On average, sell-side analysts predict that Oceanagold will post 4.07 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Nykredit A S acquired a new stake in Oceanagold during the 2nd quarter worth about $125,000. Vontobel Holding Ltd. purchased a new position in shares of Oceanagold during the 3rd quarter valued at about $311,000. Engineers Gate Manager LP acquired a new position in shares of Oceanagold in the 2nd quarter valued at about $337,000. Tidal Investments LLC acquired a new position in shares of Oceanagold in the 2nd quarter valued at about $355,000. Finally, State of Wyoming boosted its stake in shares of Oceanagold by 240.5% in the third quarter. State of Wyoming now owns 16,200 shares of the company’s stock worth $450,000 after buying an additional 11,442 shares during the last quarter.

About Oceanagold

OceanaGold Corporation is a Canadian precious-metals mining company headquartered in Vancouver, British Columbia. The company explores, develops and operates mines that produce gold and, in some operations, copper concentrates.

OceanaGold’s principal assets have included the Haile Gold Mine in South Carolina, the Didipio gold-copper mine in the Philippines, and gold operations in New Zealand, including the Waihi and Macraes mines. Its operations and projects have given the company a presence across North America, Asia and Oceania.

Founded in 2003, OceanaGold has grown through the development and acquisition of producing mines and mineral projects.