Raymond James Financial Forecasts Strong Price Appreciation for OceanaGold (TSE:OGC) Stock

OceanaGold (TSE:OGC) had its price objective hoisted by research analysts at Raymond James Financial from C$6.50 to C$24.00 in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. Raymond James Financial’s price objective indicates a potential upside of 23.84% from the stock’s previous close.

Other research analysts also recently issued reports about the stock. Royal Bank Of Canada increased their target price on shares of OceanaGold from C$21.00 to C$24.00 in a research report on Tuesday, June 3rd. Scotiabank lifted their target price on OceanaGold from C$6.50 to C$20.50 and gave the company an “outperform” rating in a report on Tuesday. TD Securities cut OceanaGold from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 27th. Finally, National Bank Financial upgraded shares of OceanaGold to a “strong-buy” rating in a research note on Friday, March 21st. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of C$18.61.

OceanaGold Trading Down 5.2%

Shares of OGC stock traded down C$1.07 during trading on Tuesday, hitting C$19.38. The company’s stock had a trading volume of 414,087 shares, compared to its average volume of 745,355. The company has a market cap of C$9.63 billion, a PE ratio of 157.16 and a beta of 1.62. The business has a fifty day moving average of C$6.12 and a 200-day moving average of C$4.89. OceanaGold has a 52 week low of C$8.94 and a 52 week high of C$21.21.

Insider Activity

In other news, Director Ian Macnevin Reid bought 8,666 shares of the company’s stock in a transaction dated Thursday, May 15th. The stock was bought at an average cost of C$16.89 per share, for a total transaction of C$146,368.74. Insiders own 0.15% of the company’s stock.

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.