OceanaGold (TSE:OGC) Sets New 1-Year High – What’s Next?

OceanaGold Co. (TSE:OGC) hit a new 52-week high during trading on Friday . The stock traded as high as C$4.80 and last traded at C$4.71, with a volume of 506978 shares traded. The stock had previously closed at C$4.64.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on OGC shares. National Bank Financial upgraded shares of OceanaGold to a “strong-buy” rating in a research report on Friday, March 21st. BMO Capital Markets lowered their price objective on shares of OceanaGold from C$6.25 to C$5.75 in a research report on Thursday, February 20th. Royal Bank of Canada upped their target price on shares of OceanaGold from C$5.50 to C$6.00 in a research report on Friday, December 6th. Scotiabank raised their price target on OceanaGold from C$6.00 to C$6.25 in a research report on Wednesday, January 15th. Finally, TD Securities cut OceanaGold from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of C$5.58.

OceanaGold Stock Performance

The company has a market cap of C$2.34 billion, a P/E ratio of 38.28 and a beta of 1.62. The business has a 50 day moving average price of C$4.24 and a two-hundred day moving average price of C$4.07.

Insider Buying and Selling at OceanaGold

In related news, Senior Officer Liang Tang sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of C$4.38, for a total value of C$219,000.00. Corporate insiders own 0.15% of the company’s stock.

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.