Oceanagold (NYSE:OGC) Releases Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Oceanagold (NYSE:OGC) posted its quarterly earnings data on Wednesday. The company reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.05, Zacks reports. Oceanagold had a net margin of 35.14% and a return on equity of 37.64%. The firm had revenue of $647.30 million for the quarter.

Oceanagold Trading Up 5.1%

Shares of Oceanagold stock traded up $1.33 on Friday, reaching $27.58. 357,305 shares of the company were exchanged, compared to its average volume of 226,950. The business has a fifty day simple moving average of $25.37. The stock has a market cap of $6.14 billion and a price-to-earnings ratio of 27.28. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.45 and a quick ratio of 1.09. Oceanagold has a fifty-two week low of $15.06 and a fifty-two week high of $43.33.

Oceanagold Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Wednesday, August 19th will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.3%. Oceanagold’s payout ratio is 35.64%.

Wall Street Analyst Weigh In

Several research firms have weighed in on OGC. Zacks Research lowered Oceanagold from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 7th. Weiss Ratings lowered Oceanagold from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, June 8th. Jefferies Financial Group raised Oceanagold to a “strong-buy” rating in a research report on Tuesday, June 9th. Finally, Scotiabank raised Oceanagold to a “strong-buy” rating in a research note on Thursday, May 14th. Two equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy”.

About Oceanagold

OceanaGold Corporation is a gold and copper mining company that explores for, develops, and operates precious metals projects. The company’s portfolio includes producing mines and development assets, with a focus on the extraction and processing of gold and copper from its owned and operated operations.

Founded in 1989, OceanaGold has built a business centered on long-life mineral assets and responsible mining practices. Its operations have historically been located in the Asia-Pacific region, including New Zealand, the Philippines, and the United States, giving it exposure to several established mining jurisdictions.

The company is headquartered in Vancouver, Canada.