OceanaGold (TSE:OGC) Price Target Raised to C$5.00

OceanaGold (TSE:OGC) had its price objective hoisted by research analysts at Raymond James from C$4.50 to C$5.00 in a report issued on Tuesday, BayStreet.CA reports. Raymond James’ price target would indicate a potential upside of 62.34% from the company’s current price. Raymond James also issued estimates for OceanaGold’s Q1 2024 earnings at $0.01 EPS, Q3 2024 earnings at $0.11 EPS and Q4 2024 earnings at $0.11 EPS.

A number of other analysts have also issued reports on the company. National Bankshares reduced their target price on OceanaGold from C$4.00 to C$3.75 in a report on Friday, February 23rd. Jefferies Financial Group increased their price objective on OceanaGold from C$3.50 to C$4.00 and gave the stock a “buy” rating in a report on Monday. BMO Capital Markets cut their price objective on OceanaGold from C$4.25 to C$3.75 in a report on Thursday, February 22nd. Cormark lowered their target price on shares of OceanaGold from C$3.25 to C$3.00 in a research report on Monday, February 26th. Finally, National Bank Financial reissued an “outperform overweight” rating on shares of OceanaGold in a research report on Monday, April 8th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, OceanaGold presently has a consensus rating of “Buy” and a consensus price target of C$4.08.

OceanaGold Stock Performance

Shares of OGC traded up C$0.07 during mid-day trading on Tuesday, reaching C$3.08. The company’s stock had a trading volume of 1,698,029 shares, compared to its average volume of 1,452,640. The company has a fifty day moving average price of C$2.85. The company has a market cap of C$2.18 billion, a P/E ratio of 19.13 and a beta of 1.50. OceanaGold has a 1 year low of C$2.08 and a 1 year high of C$3.50.

OceanaGold (TSE:OGC) last released its earnings results on Wednesday, February 21st. The company reported C$0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.02 by C($0.01). The business had revenue of C$363.94 million during the quarter. OceanaGold had a net margin of 8.10% and a return on equity of 4.88%. Sell-side analysts predict that OceanaGold will post 0.2977737 EPS for the current year.

Insiders Place Their Bets

In other OceanaGold news, Director Paul Benson purchased 44,400 shares of the business’s stock in a transaction on Tuesday, February 27th. The stock was purchased at an average price of C$2.25 per share, for a total transaction of C$99,678.00. Corporate insiders own 0.14% of the company’s stock.

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.