OceanaGold (TSE:OGC) Price Target Raised to C$4.75 at Scotiabank

OceanaGold (TSE:OGC) had its target price hoisted by investment analysts at Scotiabank from C$4.25 to C$4.75 in a note issued to investors on Monday, BayStreet.CA reports. Scotiabank’s target price suggests a potential upside of 30.85% from the company’s previous close.

A number of other analysts also recently issued reports on the stock. Raymond James increased their target price on shares of OceanaGold from C$4.50 to C$5.00 in a research report on Tuesday, April 23rd. Desjardins increased their target price on OceanaGold from C$4.90 to C$5.50 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Jefferies Financial Group raised their price target on OceanaGold from C$4.00 to C$5.00 in a report on Friday, July 12th. Royal Bank of Canada upgraded OceanaGold to a “moderate buy” rating in a research report on Wednesday, June 12th. Finally, Canaccord Genuity Group raised their price objective on OceanaGold from C$4.50 to C$5.50 and gave the company a “strong-buy” rating in a research note on Tuesday, July 23rd. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of C$4.75.

OceanaGold Stock Performance

OGC traded up C$0.06 during trading on Monday, hitting C$3.63. The stock had a trading volume of 335,146 shares, compared to its average volume of 1,435,350. OceanaGold has a twelve month low of C$2.08 and a twelve month high of C$3.84. The company’s 50-day moving average price is C$3.39 and its 200 day moving average price is C$3.10. The firm has a market capitalization of C$2.58 billion, a P/E ratio of 363.00 and a beta of 1.62.

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.