OceanaGold (TSE:OGC) Given New C$5.50 Price Target at Canaccord Genuity Group

OceanaGold (TSE:OGC) had its target price increased by Canaccord Genuity Group from C$4.50 to C$5.50 in a report released on Tuesday morning, MarketBeat Ratings reports. Canaccord Genuity Group currently has a strong-buy rating on the stock.

Several other research analysts have also weighed in on OGC. Royal Bank of Canada raised shares of OceanaGold to a moderate buy rating in a research note on Wednesday, June 12th. CIBC lifted their price target on shares of OceanaGold from C$5.00 to C$5.25 in a research report on Wednesday, July 10th. Scotiabank boosted their price target on shares of OceanaGold from C$4.00 to C$4.25 in a report on Thursday, May 23rd. Raymond James raised their price objective on OceanaGold from C$4.50 to C$5.00 in a research note on Tuesday, April 23rd. Finally, Desjardins boosted 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. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, OceanaGold has an average rating of Buy and a consensus price target of C$4.69.

OceanaGold Stock Performance

Shares of OceanaGold stock opened at C$3.57 on Tuesday. The firm has a fifty day moving average of C$3.31 and a two-hundred day moving average of C$3.01. The stock has a market capitalization of C$2.54 billion, a price-to-earnings ratio of 51.00 and a beta of 1.61. OceanaGold has a 52 week low of C$2.08 and a 52 week high of C$3.84.

OceanaGold (TSE:OGC) last released its quarterly earnings data on Tuesday, April 30th. The company reported C$0.01 EPS for the quarter, missing analysts’ consensus estimates of C$0.02 by C($0.01). OceanaGold had a net margin of 3.69% and a return on equity of 2.29%. The company had revenue of C$364.40 million during the quarter. As a group, research analysts forecast that OceanaGold will post 0.3147257 EPS 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.