OceanaGold Co. (TSE:OGC) Given Consensus Rating of “Buy” by Analysts

OceanaGold Co. (TSE:OGC) has been assigned a consensus recommendation of “Buy” from the eight brokerages that are presently covering the firm, Marketbeat.com reports. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is C$4.83.

OGC has been the subject of a number of recent research reports. Jefferies Financial Group boosted their price objective on shares of OceanaGold from C$4.00 to C$5.00 in a research report on Friday, July 12th. National Bankshares upped their price target on OceanaGold from C$4.50 to C$5.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 17th. Royal Bank of Canada lifted their price objective on OceanaGold from C$5.00 to C$5.50 and gave the company an “outperform” rating in a research report on Tuesday, September 10th. CIBC increased their price target on OceanaGold from C$5.00 to C$5.25 in a research note on Wednesday, July 10th. Finally, Desjardins lifted their price target on shares of OceanaGold from C$4.90 to C$5.50 and gave the company a “buy” rating in a report on Monday, July 22nd.

OceanaGold Price Performance

Shares of OGC opened at C$3.94 on Thursday. OceanaGold has a one year low of C$2.08 and a one year high of C$4.18. The business has a fifty day moving average of C$3.54 and a 200 day moving average of C$3.24. The firm has a market capitalization of C$2.80 billion, a P/E ratio of 394.00 and a beta of 1.61.

OceanaGold (TSE:OGC) last issued its quarterly earnings data on Tuesday, July 30th. The company reported C$0.05 earnings per share for the quarter, hitting the consensus estimate of C$0.05. The firm had revenue of C$343.70 million for the quarter. OceanaGold had a net margin of 0.10% and a return on equity of 0.24%. Analysts expect that OceanaGold will post 0.5957821 EPS for the current fiscal year.

OceanaGold Increases Dividend

The firm also recently announced a Semi-Annual dividend, which will be paid on Friday, October 11th. Stockholders of record on Thursday, August 29th will be given a dividend of $0.014 per share. This is an increase from OceanaGold’s previous Semi-Annual dividend of $0.01. The ex-dividend date is Thursday, August 29th. OceanaGold’s dividend payout ratio (DPR) is 300.00%.

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.