OceanaGold Co. (TSE:OGC) Receives C$4.83 Consensus Price Target from Brokerages

Shares of OceanaGold Co. (TSE:OGC) have been given an average rating of “Buy” by the eight research firms that are currently covering the firm, Marketbeat Ratings reports. Seven analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is C$4.83.

A number of research analysts have weighed in on the company. Scotiabank lifted their target price on OceanaGold from C$4.25 to C$4.75 in a report on Monday, August 19th. Canaccord Genuity Group increased their target price on shares of OceanaGold from C$4.50 to C$5.50 and gave the stock a “strong-buy” rating in a research note on Tuesday, July 23rd. National Bankshares boosted their price target on shares of OceanaGold from C$4.50 to C$5.00 and gave the company an “outperform” rating in a research report on Wednesday, July 17th. Jefferies Financial Group increased their price objective on OceanaGold from C$4.00 to C$5.00 in a research report on Friday, July 12th. Finally, Royal Bank of Canada boosted their target price on OceanaGold from C$5.00 to C$5.50 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th.

OceanaGold Price Performance

Shares of OGC opened at C$3.91 on Thursday. OceanaGold has a 1 year low of C$2.08 and a 1 year high of C$4.18. The stock’s fifty day moving average price is C$3.57 and its two-hundred day moving average price is C$3.27. The firm has a market cap of C$2.78 billion, a PE ratio of 391.00 and a beta of 1.61.

OceanaGold (TSE:OGC) last posted its quarterly earnings results on Tuesday, July 30th. The company reported C$0.05 earnings per share (EPS) for the quarter, meeting the consensus estimate of C$0.05. The company had revenue of C$343.70 million for the quarter. OceanaGold had a net margin of 0.10% and a return on equity of 0.24%. Sell-side analysts anticipate that OceanaGold will post 0.6243902 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 boost from OceanaGold’s previous Semi-Annual dividend of $0.01. The ex-dividend date is Thursday, August 29th. OceanaGold’s dividend payout ratio is presently 300.00%.

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.