OceanaGold Co. (TSE:OGC) Given Average Rating of “Buy” by Analysts

OceanaGold Co. (TSE:OGC) has been given a consensus recommendation of “Buy” by the eight analysts that are covering the company, Marketbeat reports. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is C$4.83.

Several analysts recently issued reports on OGC shares. National Bankshares raised their target price on OceanaGold from C$4.50 to C$5.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 17th. 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. Jefferies Financial Group upped their target price on OceanaGold from C$4.00 to C$5.00 in a report on Friday, July 12th. Scotiabank lifted their price target on shares of OceanaGold from C$4.25 to C$4.75 in a report on Monday, August 19th. Finally, Royal Bank of Canada upped their price objective on shares of OceanaGold from C$5.00 to C$5.50 and gave the stock an “outperform” rating in a report on Tuesday, September 10th.

OceanaGold Stock Performance

Shares of OceanaGold stock opened at C$3.91 on Thursday. OceanaGold has a 52-week low of C$2.08 and a 52-week high of C$4.18. The company’s 50 day moving average price is C$3.57 and its 200-day moving average price is C$3.27. The stock has a market capitalization of C$2.78 billion, a price-to-earnings ratio of 391.00 and a beta of 1.61.

OceanaGold (TSE:OGC) last announced its quarterly earnings results on Tuesday, July 30th. The company reported C$0.05 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of C$0.05. OceanaGold had a net margin of 0.10% and a return on equity of 0.24%. The business had revenue of C$343.70 million for the quarter. As a group, equities research analysts forecast that OceanaGold will post 0.6243902 earnings per share for the current fiscal year.

OceanaGold Increases Dividend

The firm also recently declared a Semi-Annual dividend, which will be paid on Friday, October 11th. Investors of record on Thursday, August 29th will be given a dividend of $0.014 per share. This is a boost from OceanaGold’s previous Semi-Annual dividend of $0.01. The ex-dividend date of this dividend is Thursday, August 29th. OceanaGold’s dividend payout ratio (DPR) is 300.00%.

OceanaGold Company Profile

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.