OceanaGold (TSE:OGC) Trading Up 4.1% – Time to Buy?

OceanaGold Co. (TSE:OGC) shares rose 4.1% during mid-day trading on Thursday . The stock traded as high as C$37.49 and last traded at C$37.02. Approximately 623,587 shares traded hands during mid-day trading, a decline of 28% from the average daily volume of 865,996 shares. The stock had previously closed at C$35.55.

Analysts Set New Price Targets

A number of equities analysts have recently commented on OGC shares. TD boosted their price objective on OceanaGold from C$55.00 to C$56.00 and gave the stock a “buy” rating in a research report on Tuesday, April 21st. Royal Bank Of Canada raised their target price on shares of OceanaGold from C$52.00 to C$78.00 in a report on Thursday, March 12th. Four analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of C$60.12.

OceanaGold Stock Performance

The company’s 50-day moving average price is C$39.95 and its 200-day moving average price is C$44.10. The firm has a market capitalization of C$8.28 billion, a PE ratio of 11.29 and a beta of 2.58.

OceanaGold (TSE:OGC) last posted its earnings results 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. As a group, analysts anticipate that OceanaGold Co. will post 0.6283048 earnings per share for the current year.

Insider Activity at OceanaGold

In other news, insider Brian Douglas Martin sold 30,000 shares of the firm’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of C$40.47, for a total transaction of C$1,214,100.00. Following the sale, the insider owned 19,363 shares of the company’s stock, valued at approximately C$783,620.61. This trade represents a 60.77% decrease in their position. Insiders own 0.15% of the company’s stock.

OceanaGold Company Profile

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.