Cormark Comments on OceanaGold Co.’s FY2024 Earnings (TSE:OGC)

OceanaGold Co. (TSE:OGC) – Research analysts at Cormark raised their FY2024 EPS estimates for shares of OceanaGold in a research report issued to clients and investors on Thursday, May 2nd. Cormark analyst R. Gray now expects that the company will earn $0.34 per share for the year, up from their previous estimate of $0.31. The consensus estimate for OceanaGold’s current full-year earnings is $0.32 per share.

Several other analysts also recently weighed in on the company. Desjardins lifted their target price on OceanaGold from C$3.50 to C$4.00 and gave the stock a “buy” rating in a research report on Tuesday, January 30th. Jefferies Financial Group lifted their price objective on shares of OceanaGold from C$3.50 to C$4.00 and gave the company a “buy” rating in a report on Monday, April 22nd. National Bankshares dropped their target price on shares of OceanaGold from C$4.75 to C$4.50 in a research note on Thursday, May 2nd. Canaccord Genuity Group lifted their price target on shares of OceanaGold from C$4.00 to C$4.25 in a research note on Tuesday, April 23rd. Finally, Raymond James increased their price objective on OceanaGold from C$4.50 to C$5.00 in a research note on Tuesday, April 23rd. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, OceanaGold currently has a consensus rating of “Buy” and a consensus price target of C$4.17.

OceanaGold Trading Down 0.3 %

OGC opened at C$3.04 on Monday. The firm’s fifty day simple moving average is C$2.93. The stock has a market cap of C$2.16 billion, a PE ratio of 43.43 and a beta of 1.61. OceanaGold has a 52-week low of C$2.08 and a 52-week high of C$3.50.

OceanaGold (TSE:OGC) last released its 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). OceanaGold had a net margin of 3.69% and a return on equity of 2.29%. The business had revenue of C$363.94 million for the quarter.

Insider Activity at OceanaGold

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, with a total value of C$99,678.00. 0.14% of the stock is currently owned by corporate insiders.

OceanaGold Announces Dividend

The firm also recently disclosed a Semi-Annual dividend, which was paid on Friday, April 26th. Stockholders 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 presently 42.86%.

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.