OceanaGold (TSE:OGC) Given New C$6.00 Price Target at Scotiabank

OceanaGold (TSE:OGC) had its target price hoisted by stock analysts at Scotiabank from C$4.75 to C$6.00 in a research note issued to investors on Thursday,BayStreet.CA reports. Scotiabank’s price target would indicate a potential upside of 37.93% from the stock’s current price.

A number of other research analysts have also issued reports on the company. National Bankshares decreased their target price on OceanaGold from C$6.00 to C$5.50 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Royal Bank of Canada raised their price objective on OceanaGold from C$5.00 to C$5.50 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. Finally, CIBC cut their price objective on OceanaGold from C$5.25 to C$4.50 in a research report on Thursday, November 7th. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, OceanaGold presently has an average rating of “Buy” and a consensus target price of C$4.93.

OceanaGold Trading Up 2.8 %

TSE OGC traded up C$0.12 on Thursday, reaching C$4.35. 784,238 shares of the stock were exchanged, compared to its average volume of 1,488,410. The firm has a market capitalization of C$3.09 billion, a PE ratio of 435.00 and a beta of 1.62. OceanaGold has a one year low of C$2.08 and a one year high of C$4.41. The company’s 50-day simple moving average is C$3.88 and its two-hundred day simple moving average is C$3.52.

OceanaGold (TSE:OGC) last released its quarterly earnings data on Wednesday, November 6th. The company reported C$0.12 earnings per share for the quarter, missing the consensus estimate of C$0.14 by C($0.02). The firm had revenue of C$470.93 million during the quarter. OceanaGold had a net margin of 0.10% and a return on equity of 0.24%. Sell-side analysts forecast that OceanaGold will post 0.6283048 earnings per share 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.