OceanaGold (TSE:OGC) Price Target Raised to C$78.00

by · The Markets Daily

OceanaGold (TSE:OGC – Free Report) had its target price upped by Royal Bank Of Canada from C$52.00 to C$78.00 in a report released on Thursday,BayStreet.CA reports.

Several other analysts have also recently issued reports on the stock. TD Securities upped their target price on shares of OceanaGold from C$38.00 to C$56.00 in a research report on Thursday, January 22nd. Canadian Imperial Bank of Commerce lifted their price target on OceanaGold from C$66.00 to C$72.00 in a research report on Thursday, February 26th. Scotiabank boosted their price objective on OceanaGold from C$44.00 to C$65.00 in a research note on Monday, January 26th. Desjardins upped their price objective on OceanaGold from C$63.00 to C$65.00 and gave the company a “buy” rating in a research report on Friday, February 20th. Finally, Jefferies Financial Group lifted their target price on OceanaGold from C$45.00 to C$53.00 in a report on Monday, January 19th. One equities research analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the stock. Based on data from MarketBeat, OceanaGold has a consensus rating of “Buy” and an average target price of C$56.13.

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OceanaGold Stock Down 5.4%

OGC stock opened at C$47.35 on Thursday. The business’s 50-day moving average price is C$49.57 and its 200-day moving average price is C$38.62. The stock has a market cap of C$10.66 billion, a P/E ratio of 17.60 and a beta of 2.12. OceanaGold has a twelve month low of C$12.15 and a twelve month high of C$59.20.

OceanaGold (TSE:OGC – Get Free Report) last released its earnings results on Wednesday, February 18th. The company reported C$1.21 EPS for the quarter. OceanaGold had a net margin of 33.30% and a return on equity of 30.82%. The firm had revenue of C$870.81 million for the quarter. On average, equities research analysts expect that OceanaGold will post 0.6283048 earnings per share for the current fiscal year.

OceanaGold declared that its board has initiated a share repurchase program on Wednesday, February 18th that permits the company to buyback $350.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 2.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its shares are undervalued.

OceanaGold Company Profile

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OceanaGold is a growing intermediate gold and copper producer committed to safely and responsibly maximizing the generation of Free Cash Flow from our operations and delivering strong returns for our shareholders. We have a portfolio of four operating mines: the Haile Gold Mine in the United States of America; Didipio Mine in the Philippines; and the Macraes and Waihi operations in New Zealand.

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