OceanaGold Co. (TSE:OGC) Receives Average Recommendation of “Buy” from Analysts

Shares of OceanaGold Co. (TSE:OGC) have earned a consensus recommendation of “Buy” from the five brokerages that are currently covering the company, Marketbeat.com reports. Four equities research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is C$56.13.

OGC has been the subject of a number of research analyst reports. Desjardins upped their price objective on shares of OceanaGold from C$63.00 to C$65.00 and gave the company a “buy” rating in a research report on Friday, February 20th. TD Securities upped their price target on OceanaGold from C$38.00 to C$56.00 in a report on Thursday, January 22nd. Scotiabank raised their price objective on OceanaGold from C$44.00 to C$65.00 in a research report on Monday, January 26th. Jefferies Financial Group lifted their price objective on OceanaGold from C$45.00 to C$53.00 in a report on Monday, January 19th. Finally, Canadian Imperial Bank of Commerce boosted their price objective on OceanaGold from C$66.00 to C$72.00 in a research report on Thursday, February 26th.

OceanaGold Trading Down 1.4%

Shares of OGC stock opened at C$50.06 on Friday. The firm has a market capitalization of C$11.27 billion, a P/E ratio of 18.61 and a beta of 2.12. OceanaGold has a 1 year low of C$12.00 and a 1 year high of C$59.20. The firm’s fifty day simple moving average is C$49.40 and its 200 day simple moving average is C$38.35.

OceanaGold (TSE:OGC) last issued its quarterly earnings results on Wednesday, February 18th. The company reported C$1.21 earnings per share for the quarter. The firm had revenue of C$870.81 million during the quarter. OceanaGold had a net margin of 33.30% and a return on equity of 30.82%. Equities research analysts anticipate that OceanaGold will post 0.6283048 EPS for the current fiscal year.

OceanaGold announced that its Board of Directors has authorized a stock repurchase plan on Wednesday, February 18th that allows the company to buyback $350.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 2.9% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.

About OceanaGold

OceanaGold is a growing intermediate gold and copper producer committed to safely and responsibly maximizing the generation of Free Cash Flow from our operations and delivering strong returns for our shareholders. We have a portfolio of four operating mines: the Haile Gold Mine in the United States of America; Didipio Mine in the Philippines; and the Macraes and Waihi operations in New Zealand.