Desjardins Downgrades OceanaGold (OGC) to Hold
Desjardins downgraded shares of OceanaGold (TSE:OGC) from a buy rating to a hold rating in a research report report published on Tuesday morning. Desjardins also issued estimates for OceanaGold’s FY2018 earnings at $0.27 EPS, Q1 2019 earnings at $0.01 EPS, Q2 2019 earnings at $0.05 EPS, Q3 2019 earnings at $0.08 EPS, Q4 2019 earnings at $0.08 EPS, FY2019 earnings at $0.23 EPS, Q1 2020 earnings at $0.08 EPS and FY2020 earnings at $0.31 EPS.
OGC has been the topic of several other research reports. Pi Financial upped their target price on shares of OceanaGold from C$4.75 to C$5.00 and gave the stock a buy rating in a research note on Friday, September 28th. Barclays reiterated an overweight rating on shares of OceanaGold in a research note on Wednesday, October 10th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of Buy and an average price target of C$4.83.
Shares of TSE OGC opened at C$4.75 on Tuesday. OceanaGold has a 52-week low of C$2.97 and a 52-week high of C$5.01. The company has a debt-to-equity ratio of 11.45, a quick ratio of 0.68 and a current ratio of 1.58.
OceanaGold Corporation, a gold mining company, explores for, develops, and operates mineral properties in the Philippines, New Zealand, and the United States. Its flagship asset is the Didipio gold-copper mine located on the island of Luzon in the Philippines. OceanaGold Corporation was incorporated in 2003 and is headquartered in Melbourne, Australia.
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