OceanaGold (TSE:OGC) Price Target Increased to C$4.00 by Analysts at Jefferies Financial Group

OceanaGold (TSE:OGC) had its price target raised by equities research analysts at Jefferies Financial Group from C$3.50 to C$4.00 in a note issued to investors on Monday, BayStreet.CA reports. The firm currently has a “buy” rating on the stock. Jefferies Financial Group’s price target indicates a potential upside of 31.15% from the company’s current price.

A number of other research analysts have also issued reports on the stock. CIBC upped their price target on shares of OceanaGold from C$4.50 to C$5.00 and gave the company an “outperform” rating in a research note on Wednesday, February 7th. BMO Capital Markets cut their price target on shares of OceanaGold from C$4.25 to C$3.75 in a research note on Thursday, February 22nd. National Bankshares cut their price target on shares of OceanaGold from C$4.00 to C$3.75 in a research note on Friday, February 23rd. Cormark cut their price target on shares of OceanaGold from C$3.25 to C$3.00 in a research note on Monday, February 26th. Finally, National Bank Financial restated an “outperform overweight” rating on shares of OceanaGold in a research note on Monday, April 8th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of C$4.08.

OceanaGold Stock Performance

TSE OGC opened at C$3.05 on Monday. The company has a market cap of C$2.16 billion, a price-to-earnings ratio of 19.06 and a beta of 1.50. The stock’s 50 day moving average price is C$2.85. OceanaGold has a 52 week low of C$2.08 and a 52 week high of C$3.50.

OceanaGold (TSE:OGC) last posted its quarterly earnings data on Wednesday, February 21st. The company reported C$0.01 EPS for the quarter, missing the consensus estimate of C$0.02 by C($0.01). The firm had revenue of C$363.94 million for the quarter. OceanaGold had a return on equity of 4.88% and a net margin of 8.10%. Analysts anticipate that OceanaGold will post 0.2977737 EPS for the current year.

Insider Activity

In other news, Director Paul Benson purchased 44,400 shares of the stock in a transaction that occurred on Tuesday, February 27th. The shares were purchased at an average cost of C$2.25 per share, with a total value of C$99,678.00. Insiders own 0.14% of the company’s stock.

About OceanaGold

OceanaGold Corporation, a gold and copper producer, engages in exploration, development, and operation of mineral properties in the United States, the Philippines, and New Zealand. It explores for gold, copper, and silver deposits. OceanaGold Corporation was founded in 2003 and is based in Vancouver, Canada.