OceanaGold (TSE:OGC) Price Target Raised to C$56.00 at TD

OceanaGold (TSE:OGC) had its target price increased by analysts at TD from C$55.00 to C$56.00 in a note issued to investors on Tuesday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. TD’s price objective suggests a potential upside of 21.34% from the stock’s current price.

OGC has been the subject of a number of other research reports. Canadian Imperial Bank of Commerce lifted their price objective on OceanaGold from C$66.00 to C$72.00 in a research report on Thursday, February 26th. Royal Bank Of Canada lifted their price objective on OceanaGold from C$52.00 to C$78.00 in a research report on Thursday, March 12th. Jefferies Financial Group lifted their price objective on OceanaGold from C$45.00 to C$53.00 in a research report on Monday, January 19th. TD Securities lifted their price target on OceanaGold from C$38.00 to C$56.00 in a report on Thursday, January 22nd. Finally, Desjardins lifted their price target on OceanaGold from C$63.00 to C$65.00 and gave the company a “buy” rating in a report on Friday, February 20th. Five analysts have rated the stock with a Buy rating, According to data from MarketBeat, OceanaGold presently has an average rating of “Buy” and an average price target of C$56.11.

OceanaGold Stock Performance

OceanaGold stock traded down C$0.46 during midday trading on Tuesday, reaching C$46.15. 270,366 shares of the company were exchanged, compared to its average volume of 876,989. The company has a market capitalization of C$10.39 billion, a price-to-earnings ratio of 17.16 and a beta of 2.46. The firm’s 50-day simple moving average is C$48.60 and its 200-day simple moving average is C$41.80. OceanaGold has a 1 year low of C$13.86 and a 1 year high of C$59.20.

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

OceanaGold announced that its board has approved a stock repurchase plan on Wednesday, February 18th that allows the company to repurchase $350.00 million in shares. This repurchase authorization allows the company to reacquire up to 2.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors 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.