OceanaGold Co. to Post Q1 2024 Earnings of $0.04 Per Share, Cormark Forecasts (TSE:OGC)

OceanaGold Co. (TSE:OGC) – Cormark reduced their Q1 2024 earnings estimates for shares of OceanaGold in a research note issued on Monday, April 22nd. Cormark analyst R. Gray now anticipates that the company will earn $0.04 per share for the quarter, down from their prior forecast of $0.10. The consensus estimate for OceanaGold’s current full-year earnings is $0.30 per share.

OceanaGold (TSE:OGC) last posted its earnings results on Wednesday, February 21st. The company reported C$0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.02 by C($0.01). The business had revenue of C$363.94 million for the quarter. OceanaGold had a return on equity of 4.88% and a net margin of 8.10%.

A number of other analysts also recently issued reports on the stock. Raymond James increased their target price on shares of OceanaGold from C$4.50 to C$5.00 in a research report on Tuesday. Canaccord Genuity Group increased their target price on shares of OceanaGold from C$4.00 to C$4.25 in a research report on Tuesday. Desjardins increased their price objective on shares of OceanaGold from C$3.50 to C$4.00 and gave the company a “buy” rating in a research report on Tuesday, January 30th. CIBC increased their price objective on shares of OceanaGold from C$4.50 to C$5.00 and gave the company an “outperform” rating in a research report on Wednesday, February 7th. Finally, National Bankshares lowered their price objective on shares of OceanaGold from C$4.00 to C$3.75 in a research report on Friday, February 23rd. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of C$4.08.

OceanaGold Stock Performance

OGC opened at C$3.03 on Wednesday. The business’s 50 day simple moving average is C$2.86. The firm has a market cap of C$2.14 billion, a P/E ratio of 18.94 and a beta of 1.50. OceanaGold has a 1 year low of C$2.08 and a 1 year high of C$3.50.

Insider Activity

In other OceanaGold news, Director Paul Benson bought 44,400 shares of OceanaGold stock in a transaction dated Tuesday, February 27th. The stock was bought at an average cost of C$2.25 per share, for a total transaction of C$99,678.00. Company insiders own 0.14% of the company’s stock.

OceanaGold Announces Dividend

The firm also recently announced a Semi-Annual dividend, which will be paid on Friday, April 26th. Stockholders of record on Thursday, March 7th will be paid a dividend of $0.013 per share. The ex-dividend date of this dividend is Wednesday, March 6th. OceanaGold’s dividend payout ratio (DPR) is currently 18.75%.

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.