Oceanagold (NYSE:OGC) Stock Breaks Above Fifty Day Moving Average – What’s Next?

Oceanagold Corp. (NYSE:OGC)’s stock price crossed above its 50 day moving average during trading on Friday. The stock has a 50 day moving average of $27.47 and traded as high as $27.98. Oceanagold shares last traded at $27.9460, with a volume of 712,458 shares.

Analyst Upgrades and Downgrades

OGC has been the topic of several recent analyst reports. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Oceanagold in a research report on Friday, October 16th. Wall Street Zen lowered shares of Oceanagold from a “buy” rating to a “hold” rating in a research report on Saturday, October 17th. Zacks Research downgraded shares of Oceanagold from a “hold” rating to a “strong sell” rating in a research report on Monday, November 2nd. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Oceanagold in a report on Friday, September 4th. Two analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Oceanagold presently has an average rating of “Buy”.

Oceanagold Trading Up 1.8%

The firm’s fifty day simple moving average is $27.47. The company has a current ratio of 1.63, a quick ratio of 1.24 and a debt-to-equity ratio of 0.01. The company has a market cap of $6.16 billion and a price-to-earnings ratio of 14.04.

Oceanagold (NYSE:OGC) last issued its quarterly earnings results on Wednesday, November 4th. The company reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.05. Oceanagold had a return on equity of 36.44% and a net margin of 35.14%. The firm had revenue of $654.90 million for the quarter. On average, sell-side analysts expect that Oceanagold Corp. will post 4.07 earnings per share for the current year.

Oceanagold Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 18th. Shareholders of record on Wednesday, November 18th will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Wednesday, November 18th. Oceanagold’s dividend payout ratio (DPR) is 18.09%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Ritholtz Wealth Management acquired a new position in Oceanagold in the 3rd quarter valued at about $439,000. Accordant Advisory Group Inc raised its position in Oceanagold by 1.5% during the third quarter. Accordant Advisory Group Inc now owns 113,518 shares of the company’s stock valued at $3,125,000 after acquiring an additional 1,655 shares in the last quarter. Profund Advisors LLC bought a new stake in shares of Oceanagold in the 3rd quarter worth approximately $486,000. State of Wyoming raised its position in Oceanagold by 240.5% in the 3rd quarter. State of Wyoming now owns 16,200 shares of the company’s stock worth $450,000 after purchasing an additional 11,442 shares during the last quarter. Finally, U S Global Investors Inc. bought a new stake in shares of Oceanagold during the third quarter worth $1,377,000.

About Oceanagold

OceanaGold Corporation is a Canadian precious-metals mining company headquartered in Vancouver, British Columbia. The company explores, develops and operates mines that produce gold and, in some operations, copper concentrates.

OceanaGold’s principal assets have included the Haile Gold Mine in South Carolina, the Didipio gold-copper mine in the Philippines, and gold operations in New Zealand, including the Waihi and Macraes mines. Its operations and projects have given the company a presence across North America, Asia and Oceania.

Founded in 2003, OceanaGold has grown through the development and acquisition of producing mines and mineral projects.