Raymond James Equities Analysts Raise Earnings Estimates for OceanaGold Co. (TSE:OGC)

OceanaGold Co. (TSE:OGC) – Analysts at Raymond James boosted their Q3 2024 EPS estimates for shares of OceanaGold in a research note issued to investors on Tuesday, April 23rd. Raymond James analyst F. Hamed now expects that the company will post earnings of $0.16 per share for the quarter, up from their prior forecast of $0.11. The consensus estimate for OceanaGold’s current full-year earnings is $0.30 per share. Raymond James also issued estimates for OceanaGold’s Q4 2024 earnings at $0.16 EPS.

OceanaGold (TSE:OGC) last announced its quarterly earnings data 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 company 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%.

Other analysts have also recently issued research reports about the stock. CIBC upped their target price on shares of OceanaGold from C$4.50 to C$5.00 and gave the company an “outperform” rating in a research note on Wednesday, February 7th. Canaccord Genuity Group upped their target price on shares of OceanaGold from C$4.00 to C$4.25 in a research note on Tuesday. National Bankshares lowered their target price on shares of OceanaGold from C$4.00 to C$3.75 in a research note on Friday, February 23rd. BMO Capital Markets lowered their target price on shares of OceanaGold from C$4.25 to C$3.75 in a research note on Thursday, February 22nd. Finally, Desjardins upped their target price on shares of OceanaGold from C$3.50 to C$4.00 and gave the company a “buy” rating in a research note on Tuesday, January 30th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of C$4.08.

OceanaGold Price Performance

Shares of OGC opened at C$3.20 on Thursday. The company’s 50-day moving average is C$2.88. The firm has a market capitalization of C$2.26 billion, a price-to-earnings ratio of 20.00 and a beta of 1.50. OceanaGold has a 52 week low of C$2.08 and a 52 week high of C$3.50.

Insiders Place Their Bets

In related news, Director Paul Benson purchased 44,400 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The shares were acquired at an average cost of C$2.25 per share, with a total value of C$99,678.00. Insiders own 0.14% of the company’s stock.

OceanaGold Dividend Announcement

The company also recently disclosed a Semi-Annual dividend, which was paid on Friday, April 26th. Shareholders of record on Thursday, March 7th were paid a dividend of $0.013 per share. The ex-dividend date was Wednesday, March 6th. OceanaGold’s dividend payout ratio is 18.75%.

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.