OceanaGold (TSE:OGC) Reaches New 1-Year High – Here’s What Happened

OceanaGold Co. (TSE:OGC)’s share price hit a new 52-week high on Friday . The company traded as high as C$4.27 and last traded at C$4.25, with a volume of 1728588 shares changing hands. The stock had previously closed at C$4.10.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Canaccord Genuity Group raised their price target on shares of OceanaGold from C$4.50 to C$5.50 and gave the company a “strong-buy” rating in a report on Tuesday, July 23rd. Royal Bank of Canada increased their price target on OceanaGold from C$5.00 to C$5.50 and gave the company an “outperform” rating in a research note on Tuesday, September 10th. National Bankshares lifted their price objective on shares of OceanaGold from C$4.50 to C$5.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 17th. Scotiabank increased their target price on shares of OceanaGold from C$4.25 to C$4.75 in a research note on Monday, August 19th. Finally, Jefferies Financial Group lifted their price target on shares of OceanaGold from C$4.00 to C$5.00 in a research report on Friday, July 12th. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of C$4.83.

OceanaGold Stock Performance

The firm has a 50 day moving average of C$3.64 and a 200-day moving average of C$3.38. The stock has a market capitalization of C$3.04 billion, a PE ratio of 426.00 and a beta of 1.62.

OceanaGold (TSE:OGC) last issued its quarterly earnings data on Tuesday, July 30th. The company reported C$0.05 EPS for the quarter, meeting analysts’ consensus estimates of C$0.05. OceanaGold had a return on equity of 0.24% and a net margin of 0.10%. The business had revenue of C$343.70 million for the quarter. On average, sell-side analysts predict that OceanaGold Co. will post 0.6283048 earnings per share for the current year.

OceanaGold Increases Dividend

The company also recently announced a Semi-Annual dividend, which was paid on Friday, October 11th. Investors of record on Thursday, August 29th were issued a $0.014 dividend. The ex-dividend date of this dividend was Thursday, August 29th. This is an increase from OceanaGold’s previous Semi-Annual dividend of $0.01. OceanaGold’s dividend payout ratio (DPR) is 300.00%.

OceanaGold Company Profile

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.