OceanaGold (TSE:OGC) Sets New 12-Month High – What’s Next?

OceanaGold Co. (TSE:OGC) shares reached a new 52-week high on Tuesday . The company traded as high as C$4.60 and last traded at C$4.52, with a volume of 606108 shares traded. The stock had previously closed at C$4.41.

Wall Street Analyst Weigh In

OGC has been the subject of a number of analyst reports. Scotiabank lifted their price target on OceanaGold from C$6.00 to C$6.25 in a research note on Wednesday, January 15th. TD Securities raised OceanaGold to a “strong-buy” rating in a research report on Tuesday. CIBC dropped their price objective on OceanaGold from C$6.00 to C$5.75 in a research note on Friday, December 13th. Royal Bank of Canada upped their target price on shares of OceanaGold from C$5.50 to C$6.00 in a research note on Friday, December 6th. Finally, National Bankshares cut their price target on shares of OceanaGold from C$6.00 to C$5.50 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Five analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, OceanaGold presently has a consensus rating of “Buy” and an average target price of C$5.13.

OceanaGold Price Performance

The stock has a market capitalization of C$3.26 billion, a PE ratio of 458.00 and a beta of 1.62. The stock’s 50 day simple moving average is C$4.16 and its two-hundred day simple moving average is C$3.89.

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

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.