OceanaGold (TSE:OGC) Sets New 12-Month High at $4.18

OceanaGold Co. (TSE:OGC)’s stock price hit a new 52-week high on Thursday . The company traded as high as C$4.18 and last traded at C$3.94, with a volume of 2354264 shares changing hands. The stock had previously closed at C$3.97.

Analyst Ratings Changes

OGC has been the subject of a number of research analyst reports. Canaccord Genuity Group lifted their price target on OceanaGold from C$4.50 to C$5.50 and gave the company a “strong-buy” rating in a report on Tuesday, July 23rd. Scotiabank upped their target price on shares of OceanaGold from C$4.25 to C$4.75 in a research report on Monday, August 19th. Royal Bank of Canada raised their price target on shares of OceanaGold from C$5.00 to C$5.50 and gave the company an “outperform” rating in a report on Tuesday, September 10th. CIBC upped their price objective on OceanaGold from C$5.00 to C$5.25 in a report on Wednesday, July 10th. Finally, Desjardins lifted their target price on OceanaGold from C$4.90 to C$5.50 and gave the company a “buy” rating in a research note on Monday, July 22nd. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of C$4.83.

OceanaGold Stock Performance

The company has a 50-day moving average price of C$3.55 and a 200-day moving average price of C$3.25. The firm has a market capitalization of C$2.73 billion, a P/E ratio of 384.00 and a beta of 1.61.

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

OceanaGold Increases Dividend

The company also recently disclosed a Semi-Annual dividend, which will be paid on Friday, October 11th. Investors of record on Thursday, August 29th will be issued a dividend of $0.014 per share. The ex-dividend date of this dividend is Thursday, August 29th. This is a boost from OceanaGold’s previous Semi-Annual dividend of $0.01. OceanaGold’s payout ratio is currently 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.