Insider Selling: OceanaGold (TSE:OGC) Insider Sells C$1,214,100.00 in Stock

OceanaGold Co. (TSE:OGC) insider Brian Douglas Martin sold 30,000 shares of OceanaGold stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of C$40.47, for a total value of C$1,214,100.00. Following the transaction, the insider owned 19,363 shares in the company, valued at approximately C$783,620.61. The trade was a 60.77% decrease in their position.

OceanaGold Stock Performance

Shares of OceanaGold stock opened at C$41.64 on Monday. OceanaGold Co. has a one year low of C$17.94 and a one year high of C$59.20. The company has a market cap of C$9.32 billion, a price-to-earnings ratio of 12.70 and a beta of 2.54. The business’s 50 day moving average price is C$43.56 and its 200 day moving average price is C$43.80.

OceanaGold (TSE:OGC) last announced its quarterly earnings data on Wednesday, May 6th. The company reported C$1.40 EPS for the quarter. OceanaGold had a return on equity of 34.87% and a net margin of 33.78%.The firm had revenue of C$993.37 million for the quarter. On average, analysts predict that OceanaGold Co. will post 0.6283048 EPS for the current fiscal year.

OceanaGold announced that its board has approved a share buyback plan on Wednesday, February 18th that allows the company to repurchase $350.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 2.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on OGC shares. Desjardins lifted their target price on OceanaGold from C$63.00 to C$65.00 and gave the company a “buy” rating in a research report on Friday, February 20th. TD lifted their target price on OceanaGold from C$55.00 to C$56.00 and gave the company a “buy” rating in a research report on Tuesday, April 21st. Royal Bank Of Canada lifted their target price on OceanaGold from C$52.00 to C$78.00 in a research report on Thursday, March 12th. Finally, Canadian Imperial Bank of Commerce lifted their target price on OceanaGold from C$66.00 to C$72.00 in a research report on Thursday, February 26th. Five equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of C$56.11.

About OceanaGold

OceanaGold is a global 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 wholly-owned Haile Gold Mine in the United States of America ; the wholly-owned Macraes and Waihi operations in New Zealand ; and the 80%-owned Didipio Mine in the Philippines.