Analysts Offer Predictions for OceanaGold Co.’s Q1 2024 Earnings (TSE:OGC)

OceanaGold Co. (TSE:OGC) – Equities researchers at National Bank Financial issued their Q1 2024 earnings per share estimates for shares of OceanaGold in a research note issued on Thursday, April 18th. National Bank Financial analyst M. Parkin expects that the company will earn $0.02 per share for the quarter. National Bank Financial has a “Outperform Overweight” rating on the stock. The consensus estimate for OceanaGold’s current full-year earnings is $0.30 per share. National Bank Financial also issued estimates for OceanaGold’s FY2025 earnings at $0.34 EPS.

OceanaGold (TSE:OGC) last issued its earnings results on Wednesday, February 21st. The company reported C$0.01 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.02 by C($0.01). OceanaGold had a return on equity of 4.88% and a net margin of 8.10%. The business had revenue of C$363.94 million during the quarter.

Other analysts have also issued reports about the company. BMO Capital Markets lowered their target price on OceanaGold from C$4.25 to C$3.75 in a research note on Thursday, February 22nd. Cormark lowered their target price on OceanaGold from C$3.25 to C$3.00 in a research note on Monday, February 26th. Raymond James boosted their price objective on OceanaGold from C$4.50 to C$5.00 in a research note on Tuesday. National Bankshares decreased their price objective on OceanaGold from C$4.00 to C$3.75 in a research note on Friday, February 23rd. Finally, Jefferies Financial Group boosted their price objective on OceanaGold from C$3.50 to C$4.00 and gave the company a “buy” rating in a research note on Monday. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of C$4.08.

OceanaGold Stock Performance

Shares of TSE:OGC opened at C$3.05 on Monday. The stock has a market capitalization of C$2.16 billion, a PE ratio of 19.06 and a beta of 1.50. OceanaGold has a 12-month low of C$2.08 and a 12-month high of C$3.50. The firm’s 50 day moving average is C$2.85.

OceanaGold Announces Dividend

The firm also recently disclosed a Semi-Annual dividend, which will be paid on Friday, April 26th. Stockholders of record on Thursday, March 7th will be given a $0.013 dividend. The ex-dividend date of this dividend is Wednesday, March 6th. OceanaGold’s payout ratio is 18.75%.

Insider Activity

In related news, Director Paul Benson acquired 44,400 shares of OceanaGold stock in a transaction on Tuesday, February 27th. The shares were bought at an average cost of C$2.25 per share, with a total value of C$99,678.00. Company insiders own 0.14% of the company’s stock.

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.