OceanaGold (TSE:OGC) Sets New 12-Month High – Time to Buy?

OceanaGold Co. (TSE:OGC)’s stock price reached a new 52-week high on Monday . The company traded as high as C$41.35 and last traded at C$40.44, with a volume of 95436 shares traded. The stock had previously closed at C$39.08.

Analysts Set New Price Targets

Several research firms recently commented on OGC. Canaccord Genuity Group upped their price objective on shares of OceanaGold from C$25.00 to C$36.00 in a report on Thursday, October 2nd. Desjardins set a C$50.00 price target on OceanaGold and gave the stock a “buy” rating in a research note on Friday, November 28th. CIBC raised their price objective on OceanaGold from C$30.00 to C$50.00 in a research report on Friday, October 10th. Jefferies Financial Group boosted their target price on OceanaGold from C$43.00 to C$45.00 in a report on Monday, December 8th. Finally, TD Securities raised OceanaGold from a “hold” rating to a “buy” rating and increased their target price for the stock from C$22.00 to C$30.00 in a research note on Monday, September 8th. One investment analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of C$34.08.

OceanaGold Price Performance

The firm has a 50-day simple moving average of C$34.29 and a 200-day simple moving average of C$27.15. The firm has a market capitalization of C$9.13 billion, a PE ratio of 23.37 and a beta of 1.53.

OceanaGold (TSE:OGC) last issued its quarterly earnings data on Wednesday, November 5th. The company reported C$0.40 earnings per share for the quarter. The firm had revenue of C$624.50 million for the quarter. OceanaGold had a net margin of 5.86% and a return on equity of 3.82%. Equities analysts expect that OceanaGold Co. will post 0.6283048 earnings per share for the current year.

OceanaGold Company Profile

OceanaGold is a growing intermediate gold and copper producer committed to safely and responsibly maximizing the generation of Free Cash Flow from our operations and delivering strong returns for our shareholders. We have a portfolio of four operating mines: the Haile Gold Mine in the United States of America; Didipio Mine in the Philippines; and the Macraes and Waihi operations in New Zealand.