OceanaGold (TSE:OGC) Releases Quarterly Earnings Results

OceanaGold (TSE:OGC) announced its earnings results on Wednesday. The company reported C$1.39 earnings per share (EPS) for the quarter, FiscalAI reports. The firm had revenue of C$919.67 million for the quarter. OceanaGold had a net margin of 33.78% and a return on equity of 34.87%.

OceanaGold Stock Performance

OGC opened at C$37.67 on Thursday. The company’s 50 day simple moving average is C$35.73 and its 200 day simple moving average is C$43.06. OceanaGold has a 1 year low of C$19.36 and a 1 year high of C$59.20. The stock has a market capitalization of C$8.38 billion, a PE ratio of 11.48 and a beta of 2.70.

Analysts Set New Price Targets

Separately, TD raised their price objective on OceanaGold from C$55.00 to C$56.00 and gave the stock a “buy” rating in a report on Tuesday, April 21st. Four research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of C$60.12.

Insider Transactions at OceanaGold

In related news, insider Brian Douglas Martin sold 30,000 shares of the company’s stock in a transaction that occurred 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 transaction, the insider owned 19,363 shares of the company’s stock, valued at approximately C$783,620.61. This represents a 60.77% decrease in their ownership of the stock. Insiders own 0.15% of the company’s stock.

OceanaGold Company Profile

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.