Brokerages Set OceanaGold Co. (TSE:OGC) Price Target at C$4.83

OceanaGold Co. (TSE:OGC) has been assigned an average recommendation of “Buy” from the eight analysts that are covering the company, Marketbeat reports. Seven research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is C$4.83.

OGC has been the subject of several recent analyst reports. Royal Bank of Canada raised their target price on shares of OceanaGold from C$5.00 to C$5.50 and gave the company an “outperform” rating in a research note on Tuesday, September 10th. National Bankshares lifted their price objective on shares of OceanaGold from C$4.50 to C$5.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 17th. CIBC lifted their price objective on shares of OceanaGold from C$5.00 to C$5.25 in a research note on Wednesday, July 10th. Jefferies Financial Group lifted their price objective on shares of OceanaGold from C$4.00 to C$5.00 in a research note on Friday, July 12th. Finally, Desjardins lifted their price objective on shares of OceanaGold from C$4.90 to C$5.50 and gave the stock a “buy” rating in a research note on Monday, July 22nd.

OceanaGold Stock Up 4.1 %

Shares of OGC stock opened at C$4.27 on Monday. The firm has a market cap of C$3.04 billion, a price-to-earnings ratio of 427.00 and a beta of 1.62. The company’s 50 day moving average is C$3.66 and its 200 day moving average is C$3.40. OceanaGold has a 52-week low of C$2.08 and a 52-week high of C$4.30.

OceanaGold (TSE:OGC) last issued its quarterly earnings data on Tuesday, July 30th. The company reported C$0.05 earnings per share (EPS) for the quarter, meeting the consensus estimate of C$0.05. The company had revenue of C$343.70 million for the quarter. OceanaGold had a net margin of 0.10% and a return on equity of 0.24%. Analysts anticipate that OceanaGold will post 0.6283048 EPS for the current fiscal year.

OceanaGold Increases Dividend

The company also recently disclosed a Semi-Annual dividend, which was paid on Friday, October 11th. Shareholders of record on Thursday, August 29th were issued a $0.014 dividend. This is a boost from OceanaGold’s previous Semi-Annual dividend of $0.01. The ex-dividend date was Thursday, August 29th. OceanaGold’s payout ratio is presently 300.00%.

About OceanaGold

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.