Brokerages Set OceanaGold Co. (TSE:OGC) Target Price at C$4.83

OceanaGold Co. (TSE:OGC) has been assigned an average recommendation of “Buy” from the eight research firms that are covering the firm, Marketbeat reports. Seven equities research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is C$4.83.

A number of research analysts recently issued reports on the company. Canaccord Genuity Group increased their price objective on OceanaGold from C$4.50 to C$5.50 and gave the stock a “strong-buy” rating in a report on Tuesday, July 23rd. Royal Bank of Canada increased their price target on OceanaGold from C$5.00 to C$5.50 and gave the company an “outperform” rating in a research report on Tuesday, September 10th. Jefferies Financial Group increased their price target on OceanaGold from C$4.00 to C$5.00 in a research report on Friday, July 12th. National Bankshares increased their price target on OceanaGold from C$4.50 to C$5.00 and gave the company an “outperform” rating in a research report on Wednesday, July 17th. Finally, Scotiabank increased their price target on OceanaGold from C$4.25 to C$4.75 in a research report on Monday, August 19th.

OceanaGold Stock Performance

TSE:OGC opened at C$3.90 on Thursday. The company has a market cap of C$2.77 billion, a PE ratio of 390.00 and a beta of 1.61. OceanaGold has a 52-week low of C$2.08 and a 52-week high of C$4.18. The stock has a 50-day simple moving average of C$3.58 and a 200 day simple moving average of C$3.29.

OceanaGold (TSE:OGC) last posted its quarterly earnings data on Tuesday, July 30th. The company reported C$0.05 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of C$0.05. The business had revenue of C$343.70 million during the quarter. OceanaGold had a return on equity of 0.24% and a net margin of 0.10%. On average, research analysts predict that OceanaGold will post 0.6243902 earnings per share for the current fiscal year.

OceanaGold Increases Dividend

The firm also recently disclosed a Semi-Annual dividend, which will be paid on Friday, October 11th. Stockholders of record on Thursday, August 29th will be given a $0.014 dividend. This is a boost from OceanaGold’s previous Semi-Annual dividend of $0.01. The ex-dividend date of this dividend is Thursday, August 29th. OceanaGold’s dividend payout ratio (DPR) is presently 300.00%.

OceanaGold Company Profile

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.