OceanaGold (TSE:OGC) Reaches New 12-Month High – Still a Buy?

OceanaGold Co. (TSE:OGC) shares hit a new 52-week high during trading on Monday . The stock traded as high as C$6.51 and last traded at C$6.46, with a volume of 434433 shares changing hands. The stock had previously closed at C$6.11.

Wall Street Analyst Weigh In

OGC has been the topic of a number of research analyst reports. 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. Raymond James upped their price target on OceanaGold from C$5.50 to C$6.50 in a research note on Friday, April 4th. TD Securities lowered OceanaGold from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 27th. Finally, National Bank Financial upgraded shares of OceanaGold to a “strong-buy” rating in a report on Friday, March 21st. One investment analyst has rated the stock with a hold rating, three have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, OceanaGold currently has a consensus rating of “Buy” and an average price target of C$5.75.

OceanaGold Price Performance

The company has a market cap of C$3.19 billion, a price-to-earnings ratio of 52.14 and a beta of 1.62. The company’s 50-day simple moving average is C$5.19 and its 200-day simple moving average is C$4.52.

Insiders Place Their Bets

In other OceanaGold news, Senior Officer Liang Tang sold 50,000 shares of OceanaGold stock in a transaction 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. Also, Director Ian Macnevin Reid bought 26,000 shares of the business’s stock in a transaction on Thursday, May 15th. The shares were acquired at an average cost of C$5.63 per share, for a total transaction of C$146,380.00. 0.15% of the stock is owned by corporate insiders.

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.