OceanaGold (TSE:OGC) Reaches New 1-Year High Following Analyst Upgrade

OceanaGold Co. (TSE:OGC) hit a new 52-week high during trading on Thursday after Jefferies Financial Group raised their price target on the stock from C$4.00 to C$5.00. The company traded as high as C$3.55 and last traded at C$3.55, with a volume of 53120 shares traded. The stock had previously closed at C$3.44.

Other research analysts have also recently issued research reports about the company. Desjardins upgraded OceanaGold to a “moderate buy” rating in a research report on Friday, May 10th. Scotiabank lifted their target price on OceanaGold from C$4.00 to C$4.25 in a research report on Thursday, May 23rd. Canaccord Genuity Group lifted their target price on OceanaGold from C$4.00 to C$4.25 in a research report on Tuesday, April 23rd. Raymond James lifted their target price on OceanaGold from C$4.50 to C$5.00 in a research report on Tuesday, April 23rd. Finally, National Bankshares reduced their price target on OceanaGold from C$4.75 to C$4.50 in a report on Thursday, May 2nd. Five analysts have rated the stock with a buy rating, According to MarketBeat, OceanaGold presently has an average rating of “Buy” and a consensus target price of C$4.33.

OceanaGold Stock Up 2.5 %

The stock has a market capitalization of C$2.65 billion, a price-to-earnings ratio of 53.29 and a beta of 1.61. The company has a 50 day simple moving average of C$3.21 and a 200-day simple moving average of C$2.93.

OceanaGold (TSE:OGC) last released its quarterly earnings data on Tuesday, April 30th. The company reported C$0.01 EPS for the quarter, missing the consensus estimate of C$0.02 by C($0.01). The firm had revenue of C$364.40 million for the quarter. OceanaGold had a net margin of 3.69% and a return on equity of 2.29%. As a group, sell-side analysts anticipate that OceanaGold Co. will post 0.3147257 earnings per share for the current fiscal year.

OceanaGold Company Profile

OceanaGold Corporation, a gold and copper producer, engages in exploration, development, and operation of mineral properties in the United States, the Philippines, and New Zealand. It explores for gold, copper, and silver deposits. OceanaGold Corporation was founded in 2003 and is based in Vancouver, Canada.