OceanaGold (TSE:OGC) Hits New 1-Year High – Time to Buy?

Shares of OceanaGold Co. (TSE:OGC) reached a new 52-week high during trading on Monday . The stock traded as high as C$4.79 and last traded at C$4.76, with a volume of 249597 shares changing hands. The stock had previously closed at C$4.69.

Wall Street Analyst Weigh In

OGC has been the subject of a number of recent research reports. Scotiabank raised their price objective on shares of OceanaGold from C$6.00 to C$6.25 in a research note on Wednesday, January 15th. TD Securities raised OceanaGold to a “strong-buy” rating in a research report on Tuesday, February 4th. National Bankshares reduced their price objective on OceanaGold from C$6.00 to C$5.50 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Royal Bank of Canada increased their price objective on OceanaGold from C$5.50 to C$6.00 in a research note on Friday, December 6th. Finally, CIBC cut their target price on shares of OceanaGold from C$6.00 to C$5.75 in a research note on Friday, December 13th. Four equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of C$5.13.

OceanaGold Stock Performance

The company has a market capitalization of C$3.24 billion, a PE ratio of 455.00 and a beta of 1.62. The business has a fifty day moving average price of C$4.18 and a 200 day moving average price of C$3.92.

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.