Scotiabank Issues Positive Forecast for OceanaGold (TSE:OGC) Stock Price

OceanaGold (TSE:OGC) had its price objective hoisted by research analysts at Scotiabank from C$4.75 to C$6.00 in a report released on Thursday,BayStreet.CA reports. Scotiabank’s price target suggests a potential upside of 37.93% from the company’s previous close.

Other research analysts have also recently issued research reports about the stock. National Bankshares cut their target price on shares of 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. Royal Bank of Canada upped their target price on shares of OceanaGold from C$5.00 to C$5.50 and gave the company an “outperform” rating in a research report on Tuesday, September 10th. Finally, CIBC dropped their target price on shares of OceanaGold from C$5.25 to C$4.50 in a research report on Thursday, November 7th. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of C$4.93.

OceanaGold Stock Up 2.8 %

Shares of OGC traded up C$0.12 during mid-day trading on Thursday, reaching C$4.35. The company’s stock had a trading volume of 784,238 shares, compared to its average volume of 1,488,410. The business has a fifty day moving average of C$3.88 and a 200 day moving average of C$3.52. The company has a market cap of C$3.09 billion, a price-to-earnings ratio of 435.00 and a beta of 1.62. OceanaGold has a 1 year low of C$2.08 and a 1 year high of C$4.41.

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

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.