CIBC Forecasts Strong Price Appreciation for OceanaGold (TSE:OGC) Stock

OceanaGold (TSE:OGC) had its price objective upped by CIBC from C$4.50 to C$6.00 in a report published on Monday morning,BayStreet.CA reports.

OGC has been the topic of several other research reports. Royal Bank of Canada increased their price target on shares of OceanaGold from C$5.00 to C$5.50 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. Scotiabank increased their target price on shares of OceanaGold from C$4.75 to C$6.00 in a report on Thursday, November 21st. Finally, National Bankshares decreased their price target on shares of OceanaGold from C$6.00 to C$5.50 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of C$5.08.

OceanaGold Stock Performance

OceanaGold stock opened at C$4.49 on Monday. The company has a market capitalization of C$3.19 billion, a PE ratio of 449.00 and a beta of 1.62. OceanaGold has a fifty-two week low of C$2.08 and a fifty-two week high of C$4.53. The firm has a 50 day moving average price of C$3.99 and a 200 day moving average price of C$3.57.

OceanaGold (TSE:OGC) last issued its quarterly earnings data on Wednesday, November 6th. The company reported C$0.12 earnings per share 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 firm had revenue of C$470.93 million during the quarter. As a group, equities research analysts forecast that OceanaGold will post 0.6283048 earnings per share for the current 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.