OceanaGold (TSE:OGC) Sets New 12-Month High – Here’s Why

OceanaGold Co. (TSE:OGC) shares reached a new 52-week high during mid-day trading on Friday . The stock traded as high as C$4.80 and last traded at C$4.71, with a volume of 506978 shares traded. The stock had previously closed at C$4.64.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on OGC shares. TD Securities downgraded OceanaGold from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 27th. Royal Bank of Canada increased their price target on shares of OceanaGold from C$5.50 to C$6.00 in a research report on Friday, December 6th. BMO Capital Markets dropped their price objective on OceanaGold from C$6.25 to C$5.75 in a research report on Thursday, February 20th. National Bank Financial upgraded OceanaGold to a “strong-buy” rating in a research report on Friday, March 21st. Finally, Scotiabank increased their target price on shares of OceanaGold from C$6.00 to C$6.25 in a report on Wednesday, January 15th. One research analyst has rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of C$5.58.

OceanaGold Stock Performance

The company’s 50 day simple moving average is C$4.22 and its 200 day simple moving average is C$4.06. The stock has a market cap of C$2.34 billion, a PE ratio of 38.20 and a beta of 1.62.

Insider Activity

In other OceanaGold news, Senior Officer Liang Tang sold 50,000 shares of OceanaGold stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of C$4.38, for a total transaction of C$219,000.00. 0.15% of the stock is owned by company insiders.

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.