OceanaGold (TSE:OGC) Stock Price Down 10.1%

OceanaGold Co. (TSE:OGC)’s share price was down 10.1% during trading on Wednesday . The company traded as low as C$3.01 and last traded at C$3.21. Approximately 199,636 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 1,394,226 shares. The stock had previously closed at C$3.57.

Analyst Ratings Changes

A number of equities analysts recently commented on OGC shares. Scotiabank raised their target price on OceanaGold from C$4.00 to C$4.25 in a report on Thursday, May 23rd. Jefferies Financial Group raised their target price on OceanaGold from C$4.00 to C$5.00 in a report on Friday, July 12th. Canaccord Genuity Group raised their target price 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. 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. Finally, CIBC raised their price target on OceanaGold from C$5.00 to C$5.25 in a report on Wednesday, July 10th. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, OceanaGold presently has a consensus rating of “Buy” and a consensus target price of C$4.69.

OceanaGold Stock Performance

The firm’s 50 day moving average price is C$3.34 and its 200-day moving average price is C$3.03. The firm has a market capitalization of C$2.42 billion, a PE ratio of 48.57 and a beta of 1.61.

OceanaGold (TSE:OGC) last posted its quarterly earnings data on Tuesday, April 30th. The company reported C$0.01 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.02 by C($0.01). OceanaGold had a return on equity of 2.29% and a net margin of 3.69%. The company had revenue of C$364.40 million for the quarter. On average, equities research analysts expect that OceanaGold Co. will post 0.3147257 earnings per share for the current fiscal year.

OceanaGold Increases Dividend

The company also recently disclosed a Semi-Annual dividend, which will be paid on Friday, October 11th. Stockholders of record on Thursday, August 29th will be issued a $0.014 dividend. This is a positive change 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 42.86%.

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.