CIBC Issues Pessimistic Forecast for OceanaGold (TSE:OGC) Stock Price

OceanaGold (TSE:OGC) had its price target decreased by CIBC from C$5.25 to C$4.50 in a report published on Thursday,BayStreet.CA reports.

Several other equities analysts have also commented on the company. Canaccord Genuity Group raised their price objective on OceanaGold from C$4.50 to C$5.50 and gave the company a “strong-buy” rating in a research report on Tuesday, July 23rd. Desjardins raised their price target on OceanaGold from C$4.90 to C$5.50 and gave the company a “buy” rating in a report on Monday, July 22nd. Royal Bank of Canada raised their price target on OceanaGold from C$5.00 to C$5.50 and gave the company an “outperform” rating in a report on Tuesday, September 10th. Jefferies Financial Group increased their price target on OceanaGold from C$4.00 to C$5.00 in a report on Friday, July 12th. Finally, Scotiabank upped their price objective on OceanaGold from C$4.25 to C$4.75 in a research report on Monday, August 19th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, OceanaGold has a consensus rating of “Buy” and a consensus price target of C$4.80.

OceanaGold Stock Performance

OGC stock traded down C$0.08 on Thursday, reaching C$3.89. The company’s stock had a trading volume of 855,106 shares, compared to its average volume of 1,470,441. The business has a fifty day simple moving average of C$3.81 and a two-hundred day simple moving average of C$3.47. OceanaGold has a 12-month low of C$2.08 and a 12-month high of C$4.41. The firm has a market cap of C$2.77 billion, a PE ratio of 386.00 and a beta of 1.62.

OceanaGold (TSE:OGC) last announced its quarterly earnings data on Wednesday, November 6th. The company reported C$0.12 EPS for the quarter, missing the consensus estimate of C$0.14 by C($0.02). The firm had revenue of C$470.93 million for the quarter. OceanaGold had a net margin of 0.10% and a return on equity of 0.24%. As a group, research analysts anticipate that OceanaGold will post 0.6283048 earnings per share for the current fiscal year.

About OceanaGold

OceanaGold Corporation, a gold and copper producer, engages in exploration, development, and operation of mineral properties in the United States, the Philippines, and New Zealand. It explores for gold, copper, and silver deposits. OceanaGold Corporation was founded in 2003 and is based in Vancouver, Canada.