OceanaGold (TSE:OGC) Hits New 1-Year High – Time to Buy?

OceanaGold Co. (TSE:OGC)’s share price reached a new 52-week high during trading on Monday . The company traded as high as C$4.53 and last traded at C$4.42, with a volume of 113357 shares trading hands. The stock had previously closed at C$4.34.

Analyst Ratings Changes

Several research analysts have recently issued reports on OGC shares. National Bankshares reduced their price objective on OceanaGold from C$6.00 to C$5.50 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Scotiabank raised their target price on OceanaGold from C$4.75 to C$6.00 in a report on Thursday, November 21st. CIBC dropped their price objective on OceanaGold from C$5.25 to C$4.50 in a report on Thursday, November 7th. Finally, Royal Bank of Canada raised their price objective on OceanaGold from C$5.00 to C$5.50 and gave the company an “outperform” rating in a report on Tuesday, September 10th. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, OceanaGold presently has a consensus rating of “Buy” and an average target price of C$4.93.

OceanaGold Stock Down 0.2 %

The stock has a market cap of C$3.14 billion, a PE ratio of 442.00 and a beta of 1.62. The stock has a 50-day moving average of C$3.99 and a 200 day moving average of C$3.57.

OceanaGold (TSE:OGC) last posted its earnings results on Wednesday, November 6th. The company reported C$0.12 EPS for the quarter, missing analysts’ consensus estimates of C$0.14 by C($0.02). OceanaGold had a net margin of 0.10% and a return on equity of 0.24%. The business had revenue of C$470.93 million during the quarter. Research analysts forecast that OceanaGold Co. will post 0.6283048 EPS for the current fiscal year.

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.