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

OceanaGold Co. (TSE:OGC) reached a new 52-week high during mid-day trading on Tuesday . The stock 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

A number of equities analysts have issued reports on the stock. Scotiabank boosted their price objective on shares of OceanaGold from C$6.00 to C$6.25 in a research report on Wednesday, January 15th. CIBC decreased their price objective on shares of OceanaGold from C$6.00 to C$5.75 in a report on Friday, December 13th. National Bankshares reduced their price target 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. Finally, Royal Bank of Canada increased their price target on OceanaGold from C$5.50 to C$6.00 in a report on Friday, December 6th. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, OceanaGold currently has a consensus rating of “Buy” and a consensus price target of C$5.13.

OceanaGold Trading Up 2.9 %

The firm has a 50-day simple moving average of C$4.15 and a two-hundred day simple moving average of C$3.88. The company has a market capitalization of C$3.23 billion, a price-to-earnings ratio of 454.00 and a beta of 1.62.

OceanaGold (TSE:OGC) last posted its quarterly earnings results 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). OceanaGold had a net margin of 0.10% and a return on equity of 0.24%. The firm had revenue of C$470.93 million during the quarter. Equities research analysts anticipate that OceanaGold Co. will post 0.6283048 EPS 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.