OceanaGold (TSE:OGC) Sets New 12-Month High – What’s Next?

OceanaGold Co. (TSE:OGC)’s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$4.60 and last traded at C$4.52, with a volume of 606108 shares trading hands. The stock had previously closed at C$4.41.

Analysts Set New Price Targets

OGC has been the topic of a number of recent research reports. Royal Bank of Canada raised their price target on shares of OceanaGold from C$5.50 to C$6.00 in a research report on Friday, December 6th. Scotiabank raised their target price on shares of OceanaGold from C$6.00 to C$6.25 in a report on Wednesday, January 15th. National Bankshares cut their price target on OceanaGold from C$6.00 to C$5.50 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. TD Securities raised OceanaGold to a “strong-buy” rating in a research report on Tuesday. Finally, CIBC dropped their price objective on OceanaGold from C$6.00 to C$5.75 in a report on Friday, December 13th. Five analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of C$5.13.

OceanaGold Price Performance

The company has a market capitalization of C$3.26 billion, a P/E ratio of 458.00 and a beta of 1.62. The stock has a 50-day moving average price of C$4.16 and a 200-day moving average price of C$3.89.

OceanaGold (TSE:OGC) last posted its quarterly earnings data on Wednesday, November 6th. The company reported C$0.12 earnings per share for the quarter, missing the consensus estimate of C$0.14 by C($0.02). The business had revenue of C$470.93 million during the quarter. OceanaGold had a return on equity of 0.24% and a net margin of 0.10%. Sell-side analysts anticipate that OceanaGold Co. will post 0.6283048 EPS 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.