OceanaGold (TSE:OGC) Hits New 12-Month High – Here’s Why

OceanaGold Co. (TSE:OGC) shares reached a new 52-week high on Monday . The stock traded as high as C$44.30 and last traded at C$43.68, with a volume of 43347 shares trading hands. The stock had previously closed at C$42.23.

Wall Street Analyst Weigh In

OGC has been the subject of a number of research analyst reports. Canaccord Genuity Group raised their price objective on OceanaGold from C$25.00 to C$36.00 in a research report on Thursday, October 2nd. CIBC increased their price target on OceanaGold from C$30.00 to C$50.00 in a research note on Friday, October 10th. Desjardins set a C$50.00 price target on OceanaGold and gave the company a “buy” rating in a report on Friday, November 28th. Finally, Jefferies Financial Group upped their price objective on OceanaGold from C$43.00 to C$45.00 in a report on Monday, December 8th. One analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of C$34.08.

OceanaGold Stock Performance

The company has a market capitalization of C$10.13 billion, a P/E ratio of 25.93 and a beta of 1.85. The firm’s fifty day moving average is C$36.46 and its 200 day moving average is C$29.24.

OceanaGold (TSE:OGC) last announced its earnings results on Wednesday, November 5th. The company reported C$0.40 earnings per share (EPS) for the quarter. The business had revenue of C$624.50 million during the quarter. OceanaGold had a return on equity of 3.82% and a net margin of 5.86%. On average, analysts forecast that OceanaGold Co. will post 0.6283048 EPS 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.