OceanaGold (TSE:OGC) Price Target Increased to C$5.00 by Analysts at Raymond James

OceanaGold (TSE:OGC) had its target price upped by Raymond James from C$4.50 to C$5.00 in a research report sent to investors on Tuesday morning, BayStreet.CA reports. Raymond James also issued estimates for OceanaGold’s Q1 2024 earnings at $0.01 EPS, Q3 2024 earnings at $0.11 EPS and Q4 2024 earnings at $0.11 EPS.

A number of other research firms have also weighed in on OGC. National Bankshares cut their target price on shares of OceanaGold from C$4.00 to C$3.75 in a research note on Friday, February 23rd. Desjardins increased their price objective on OceanaGold from C$3.50 to C$4.00 and gave the company a buy rating in a report on Tuesday, January 30th. Cormark decreased their price objective on OceanaGold from C$3.25 to C$3.00 in a report on Monday, February 26th. BMO Capital Markets decreased their price objective on OceanaGold from C$4.25 to C$3.75 in a report on Thursday, February 22nd. Finally, Jefferies Financial Group increased their price objective on OceanaGold from C$3.50 to C$4.00 and gave the company a buy rating in a report on Monday. Six research analysts have rated the stock with a buy rating, According to MarketBeat, OceanaGold has an average rating of Buy and an average price target of C$4.08.

OceanaGold Price Performance

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

OceanaGold (TSE:OGC) last released its earnings results on Wednesday, February 21st. The company reported C$0.01 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.02 by C($0.01). OceanaGold had a return on equity of 4.88% and a net margin of 8.10%. The firm had revenue of C$363.94 million for the quarter. As a group, sell-side analysts forecast that OceanaGold will post 0.2977737 earnings per share for the current fiscal year.

OceanaGold Dividend Announcement

The business also recently declared a Semi-Annual dividend, which will be paid on Friday, April 26th. Investors of record on Thursday, March 7th will be issued a dividend of $0.013 per share. The ex-dividend date is Wednesday, March 6th. OceanaGold’s dividend payout ratio is presently 18.75%.

Insider Buying and Selling

In other OceanaGold news, Director Paul Benson acquired 44,400 shares of the business’s stock in a transaction on Tuesday, February 27th. The stock was purchased at an average price of C$2.25 per share, for a total transaction of C$99,678.00. Corporate 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.