OceanaGold (TSE:OGC) Reaches New 1-Year High – Still a Buy?

OceanaGold Co. (TSE:OGC) reached a new 52-week high during trading on Friday . The stock traded as high as C$4.80 and last traded at C$4.71, with a volume of 506978 shares trading hands. The stock had previously closed at C$4.64.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. CIBC lowered their price objective on OceanaGold from C$6.00 to C$5.75 in a research report on Friday, December 13th. BMO Capital Markets lowered their price target on OceanaGold from C$6.25 to C$5.75 in a research note on Thursday, February 20th. Scotiabank increased their target price on shares of OceanaGold from C$6.00 to C$6.25 in a report on Wednesday, January 15th. TD Securities lowered shares of OceanaGold from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 27th. Finally, Royal Bank of Canada raised their price objective on OceanaGold from C$5.50 to C$6.00 in a research note on Friday, December 6th. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of C$5.58.

OceanaGold Price Performance

The company’s 50-day simple moving average is C$4.22 and its 200-day simple moving average is C$4.06. The stock has a market capitalization of C$2.34 billion, a P/E ratio of 38.20 and a beta of 1.62.

Insider Activity

In related news, Senior Officer Liang Tang sold 50,000 shares of OceanaGold stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of C$4.38, for a total transaction of C$219,000.00. Insiders own 0.15% 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.