Analysts Issue Forecasts for OceanaGold FY2024 Earnings

OceanaGold Co. (TSE:OGC) – Equities researchers at National Bank Financial reduced their FY2024 EPS estimates for OceanaGold in a research note issued on Tuesday, October 22nd. National Bank Financial analyst M. Parkin now anticipates that the company will earn $0.46 per share for the year, down from their previous forecast of $0.47. The consensus estimate for OceanaGold’s current full-year earnings is $0.63 per share.

A number of other brokerages also recently issued reports on OGC. Royal Bank of Canada upped their price objective on OceanaGold from C$5.00 to C$5.50 and gave the company an “outperform” rating in a research note on Tuesday, September 10th. Scotiabank increased their price target on shares of OceanaGold from C$4.25 to C$4.75 in a research report on Monday, August 19th. Desjardins lifted their price objective on shares of OceanaGold from C$4.90 to C$5.50 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Jefferies Financial Group increased their target price on shares of OceanaGold from C$4.00 to C$5.00 in a research report on Friday, July 12th. Finally, CIBC raised their price target on shares of OceanaGold from C$5.00 to C$5.25 in a research note on Wednesday, July 10th. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of C$4.88.

OceanaGold Trading Down 1.2 %

Shares of OGC opened at C$4.11 on Friday. The stock has a 50 day moving average of C$3.74 and a 200 day moving average of C$3.42. The company has a market capitalization of C$2.92 billion, a price-to-earnings ratio of 411.00 and a beta of 1.62. OceanaGold has a 12 month low of C$2.08 and a 12 month high of C$4.41.

OceanaGold (TSE:OGC) last posted its earnings results on Tuesday, July 30th. The company reported C$0.05 EPS for the quarter, hitting the consensus estimate of C$0.05. OceanaGold had a net margin of 0.10% and a return on equity of 0.24%. The firm had revenue of C$343.70 million for the quarter.

OceanaGold Increases Dividend

The firm also recently disclosed a Semi-Annual dividend, which was paid on Friday, October 11th. Investors of record on Thursday, August 29th were issued a $0.014 dividend. The ex-dividend date of this dividend was Thursday, August 29th. This is an increase from OceanaGold’s previous Semi-Annual dividend of $0.01. OceanaGold’s dividend payout ratio (DPR) is 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.