OceanaGold (TSE:OGC) Insider Sells C$1,214,100.00 in Stock

OceanaGold Co. (TSE:OGC) insider Brian Douglas Martin sold 30,000 shares of the company’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of C$40.47, for a total transaction of C$1,214,100.00. Following the completion of the sale, the insider directly owned 19,363 shares in the company, valued at approximately C$783,620.61. This represents a 60.77% decrease in their ownership of the stock.

OceanaGold Stock Performance

Shares of TSE:OGC traded up C$1.16 during trading on Friday, reaching C$41.63. The stock had a trading volume of 341,253 shares, compared to its average volume of 845,244. The firm’s fifty day moving average is C$43.61 and its 200 day moving average is C$43.75. OceanaGold Co. has a 52 week low of C$17.94 and a 52 week high of C$59.20. The stock has a market cap of C$9.32 billion, a price-to-earnings ratio of 12.69 and a beta of 2.54.

OceanaGold (TSE:OGC) last posted its quarterly earnings data on Wednesday, May 6th. The company reported C$1.40 EPS for the quarter. OceanaGold had a net margin of 33.78% and a return on equity of 34.87%. The company had revenue of C$993.37 million for the quarter. On average, research analysts forecast that OceanaGold Co. will post 0.6283048 earnings per share for the current fiscal year.

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

Analysts Set New Price Targets

OGC has been the topic of a number of analyst reports. TD upped their price objective on shares of OceanaGold from C$55.00 to C$56.00 and gave the company a “buy” rating in a research note on Tuesday, April 21st. Canadian Imperial Bank of Commerce increased their target price on shares of OceanaGold from C$66.00 to C$72.00 in a research note on Thursday, February 26th. Royal Bank Of Canada increased their target price on shares of OceanaGold from C$52.00 to C$78.00 in a research note on Thursday, March 12th. Finally, Desjardins increased their target price on shares of OceanaGold from C$63.00 to C$65.00 and gave the stock a “buy” rating in a research note on Friday, February 20th. Five equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of C$56.11.

About OceanaGold

OceanaGold is a global 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 wholly-owned Haile Gold Mine in the United States of America ; the wholly-owned Macraes and Waihi operations in New Zealand ; and the 80%-owned Didipio Mine in the Philippines.