Cormark Has Positive Outlook of OceanaGold FY2024 Earnings

OceanaGold Co. (TSE:OGC) – Research analysts at Cormark upped their FY2024 EPS estimates for OceanaGold in a research note issued to investors on Monday, January 27th. Cormark analyst R. Gray now anticipates that the company will post earnings of $0.42 per share for the year, up from their prior forecast of $0.40. The consensus estimate for OceanaGold’s current full-year earnings is $0.63 per share. Cormark also issued estimates for OceanaGold’s Q4 2024 earnings at $0.22 EPS and Q1 2025 earnings at $0.17 EPS.

OceanaGold (TSE:OGC) last posted its quarterly earnings data on Wednesday, November 6th. The company reported C$0.12 EPS for the quarter, missing analysts’ consensus estimates of C$0.14 by C($0.02). The company had revenue of C$470.93 million for the quarter. OceanaGold had a net margin of 0.10% and a return on equity of 0.24%.

Several other research firms have also weighed in on OGC. National Bankshares reduced their price objective on shares of OceanaGold from C$6.00 to C$5.50 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Scotiabank upped their price target on OceanaGold from C$6.00 to C$6.25 in a report on Wednesday, January 15th. CIBC reduced their price objective on OceanaGold from C$6.00 to C$5.75 in a research note on Friday, December 13th. Finally, Royal Bank of Canada lifted their target price on OceanaGold from C$5.50 to C$6.00 in a report on Friday, December 6th. Five equities 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 stock presently has an average rating of “Buy” and an average target price of C$5.13.

OceanaGold Stock Performance

OGC opened at C$4.14 on Tuesday. The stock’s fifty day moving average is C$4.13 and its 200-day moving average is C$3.84. The company has a market capitalization of C$2.94 billion, a PE ratio of 414.00 and a beta of 1.62. OceanaGold has a one year low of C$2.08 and a one year high of C$4.57.

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.