OceanaGold (OTCMKTS:OCANF) Share Price Passes Above 50-Day Moving Average – What’s Next?

OceanaGold Co. (OTCMKTS:OCANF)’s share price passed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $36.17 and traded as high as $36.60. OceanaGold shares last traded at $34.7680, with a volume of 21,018 shares.

Analysts Set New Price Targets

Several brokerages recently issued reports on OCANF. Jefferies Financial Group reaffirmed a “buy” rating on shares of OceanaGold in a research report on Sunday, December 7th. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of OceanaGold in a research note on Wednesday, February 4th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of OceanaGold in a report on Monday, January 26th. Six research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy”.

OceanaGold Stock Performance

The company’s 50-day simple moving average is $36.17 and its 200 day simple moving average is $27.98.

OceanaGold Company Profile

OceanaGold Corporation is an international gold and copper producer headquartered in Melbourne, Australia. The company focuses on the exploration, development and operation of open pit and underground mines across the Asia–Pacific and North America regions. Its core operations include the Didipio mine in the Philippines, the Macraes and Waihi gold mines in New Zealand and the Haile gold mine in South Carolina, United States. OceanaGold’s portfolio spans proven reserves, near‐mine development projects and exploration tenements, providing a balanced mix of production and growth assets.

Founded in 2005 as a spin-off from Placer Dome, OceanaGold has grown through strategic acquisitions and organic development.