Scotiabank Upgrades OceanaGold Co. (OGC) to “Outperform”
OceanaGold Co. (TSE:OGC) was upgraded by investment analysts at Scotiabank from a “sector perform” rating to an “outperform” rating in a research note issued on Wednesday. The brokerage presently has a C$6.50 price target on the stock, up from their previous price target of C$6.25. Scotiabank’s price objective would suggest a potential upside of 35.98% from the company’s previous close.
Other analysts also recently issued reports about the company. Raymond James Financial Inc. lifted their price target on OceanaGold from C$5.20 to C$6.00 in a research note on Monday, June 27th. Barclays PLC began coverage on OceanaGold in a research note on Friday, July 8th. They issued an “equal weight” rating and a C$6.00 price target on the stock. National Bank Financial lifted their price target on OceanaGold from C$6.00 to C$6.50 in a research note on Wednesday, July 13th. Finally, BMO Capital Markets restated a “market perform” rating and issued a C$6.00 price target on shares of OceanaGold in a research note on Wednesday, September 7th. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. OceanaGold has a consensus rating of “Hold” and an average target price of C$5.13.
Shares of OceanaGold (TSE:OGC) opened at 4.78 on Wednesday. The firm has a 50 day moving average price of $4.60 and a 200-day moving average price of $4.36. OceanaGold has a 52 week low of $1.79 and a 52 week high of $5.56. The firm has a market capitalization of $2.92 billion and a P/E ratio of 28.28.
OceanaGold Company Profile
OceanaGold Corporation is an Australia-based gold mining and exploration company. The Company is engaged in the production of gold. The Company operates through three segments: New Zealand, the Philippines and the USA. Its asset portfolio consists of the Macraes Operations (Macraes), which include the operating Macraes open pit gold mines and Frasers underground gold mine; the Didipio Operations (Didipio), which includes an open pit that commenced commercial production, and an underground mine; the Waihi Gold Mine Operation (Waihi), which includes the Martha open pit and Correnso underground gold mine, and the Haile Gold Mine Project (Haile).
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