Canaccord Genuity Group Raises OceanaGold (TSE:OGC) Price Target to C$4.25

OceanaGold (TSE:OGC) had its price target boosted by equities researchers at Canaccord Genuity Group from C$4.00 to C$4.25 in a research report issued on Tuesday, BayStreet.CA reports. Canaccord Genuity Group’s target price suggests a potential upside of 37.99% from the company’s previous close.

A number of other brokerages have also recently commented on OGC. National Bank Financial restated an “outperform overweight” rating on shares of OceanaGold in a research report on Monday, April 8th. Cormark decreased their price target on OceanaGold from C$3.25 to C$3.00 in a research report on Monday, February 26th. CIBC raised their price target on OceanaGold from C$4.50 to C$5.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 7th. Jefferies Financial Group raised their price target on OceanaGold from C$3.50 to C$4.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Desjardins raised 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 Tuesday, January 30th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of C$4.08.

OceanaGold Price Performance

OGC stock traded up C$0.07 during trading hours on Tuesday, hitting C$3.08. 1,698,029 shares of the stock were exchanged, compared to its average volume of 1,452,640. The firm has a market cap of C$2.18 billion, a price-to-earnings ratio of 19.13 and a beta of 1.50. The firm has a 50-day moving average price of C$2.85. OceanaGold has a 12 month low of C$2.08 and a 12 month high of C$3.50.

OceanaGold (TSE:OGC) last posted its quarterly earnings data on Wednesday, February 21st. The company reported C$0.01 earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of C$363.94 million for the quarter. Equities research analysts anticipate that OceanaGold will post 0.2977737 EPS for the current year.

Insider Activity

In other news, Director Paul Benson purchased 44,400 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were purchased at an average cost of C$2.25 per share, with a total value of C$99,678.00. Insiders own 0.14% of the company’s stock.

About OceanaGold

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.