Raymond James Raises OceanaGold (TSE:OGC) Price Target to C$5.00

OceanaGold (TSE:OGC) had its price objective boosted by stock analysts at Raymond James from C$4.50 to C$5.00 in a research report issued to clients and investors on Tuesday, BayStreet.CA reports. Raymond James’ price target suggests a potential upside of 65.02% from the stock’s previous close. Raymond James also issued estimates for OceanaGold’s Q1 2024 earnings at $0.01 EPS, Q3 2024 earnings at $0.11 EPS and Q4 2024 earnings at $0.11 EPS.

Several other brokerages have also commented on OGC. National Bankshares decreased their price objective on shares of OceanaGold from C$4.00 to C$3.75 in a report on Friday, February 23rd. Cormark decreased their price target on shares of OceanaGold from C$3.25 to C$3.00 in a research note on Monday, February 26th. Jefferies Financial Group lifted their price objective on OceanaGold from C$3.50 to C$4.00 and gave the company a “buy” rating in a research report on Monday. BMO Capital Markets decreased their target price on OceanaGold from C$4.25 to C$3.75 in a research report on Thursday, February 22nd. Finally, CIBC raised their target price on OceanaGold from C$4.50 to C$5.00 and gave the company an “outperform” rating in a research note on Wednesday, February 7th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of C$4.08.

OceanaGold Price Performance

OGC stock opened at C$3.03 on Tuesday. The stock has a market capitalization of C$2.14 billion, a PE ratio of 18.94 and a beta of 1.50. The company has a 50-day moving average price of C$2.86. OceanaGold has a 12-month low of C$2.08 and a 12-month high of C$3.50.

OceanaGold (TSE:OGC) last released its quarterly earnings results on Wednesday, February 21st. The company reported C$0.01 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 net margin of 8.10% and a return on equity of 4.88%. On average, research analysts expect that OceanaGold will post 0.2977737 EPS for the current fiscal year.

Insiders Place Their Bets

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

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.