Q1 2024 Earnings Forecast for OceanaGold Co. Issued By Raymond James (TSE:OGC)

OceanaGold Co. (TSE:OGC) – Investment analysts at Raymond James dropped their Q1 2024 earnings per share estimates for OceanaGold in a research report issued to clients and investors on Thursday, April 18th. Raymond James analyst F. Hamed now forecasts that the company will earn $0.01 per share for the quarter, down from their prior forecast of $0.03. The consensus estimate for OceanaGold’s current full-year earnings is $0.30 per share. Raymond James also issued estimates for OceanaGold’s Q3 2024 earnings at $0.11 EPS and Q4 2024 earnings at $0.11 EPS.

Several other equities research analysts also recently weighed in on the company. BMO Capital Markets reduced their price target on OceanaGold from C$4.25 to C$3.75 in a report on Thursday, February 22nd. National Bankshares lowered their price objective on OceanaGold from C$4.00 to C$3.75 in a research report on Friday, February 23rd. Jefferies Financial Group raised their target price on OceanaGold from C$3.50 to C$4.00 and gave the stock a “buy” rating in a research note on Monday. National Bank Financial reiterated an “outperform overweight” rating on shares of OceanaGold in a research note on Monday, April 8th. Finally, CIBC raised their target price on OceanaGold from C$4.50 to C$5.00 and gave the company an “outperform” rating in a research report on Wednesday, February 7th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of C$4.08.

OceanaGold Stock Performance

Shares of TSE OGC opened at C$3.05 on Monday. The business has a 50 day simple moving average of C$2.85. OceanaGold has a fifty-two week low of C$2.08 and a fifty-two week high of C$3.50. The stock has a market capitalization of C$2.16 billion, a P/E ratio of 19.06 and a beta of 1.50.

OceanaGold (TSE:OGC) last issued its quarterly earnings results on Wednesday, February 21st. The company reported C$0.01 earnings per share for the quarter, missing the consensus estimate of C$0.02 by C($0.01). OceanaGold had a return on equity of 4.88% and a net margin of 8.10%. The business had revenue of C$363.94 million during the quarter.

OceanaGold Dividend Announcement

The company also recently disclosed a Semi-Annual dividend, which will be paid on Friday, April 26th. Investors of record on Thursday, March 7th will be issued a $0.013 dividend. The ex-dividend date is Wednesday, March 6th. OceanaGold’s payout ratio is 18.75%.

Insider Buying and Selling

In other news, Director Paul Benson acquired 44,400 shares of the stock in a transaction that occurred on Tuesday, February 27th. The shares were bought at an average cost of C$2.25 per share, for a total transaction of C$99,678.00. 0.14% of the stock is currently owned by insiders.

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.