OceanaGold Co. (TSE:OGC) Given Average Recommendation of “Buy” by Brokerages

Shares of OceanaGold Co. (TSE:OGC) have earned an average recommendation of “Buy” from the eight ratings firms that are covering the firm, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is C$4.83.

Several analysts recently commented on the company. National Bankshares boosted their price target on OceanaGold from C$4.50 to C$5.00 and gave the company an “outperform” rating in a research note on Wednesday, July 17th. Jefferies Financial Group boosted their price objective on OceanaGold from C$4.00 to C$5.00 in a research note on Friday, July 12th. Scotiabank boosted their price objective on OceanaGold from C$4.25 to C$4.75 in a research note on Monday, August 19th. Desjardins boosted their price objective on OceanaGold from C$4.90 to C$5.50 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Finally, CIBC boosted their price objective on OceanaGold from C$5.00 to C$5.25 in a research note on Wednesday, July 10th.

OceanaGold Price Performance

Shares of OGC stock opened at C$3.90 on Thursday. The stock’s fifty day simple moving average is C$3.58 and its 200 day simple moving average is C$3.29. The firm has a market cap of C$2.77 billion, a price-to-earnings ratio of 390.00 and a beta of 1.61. OceanaGold has a one year low of C$2.08 and a one year high of C$4.18.

OceanaGold (TSE:OGC) last announced its quarterly earnings results on Tuesday, July 30th. The company reported C$0.05 EPS for the quarter, meeting the consensus estimate of C$0.05. The business had revenue of C$343.70 million for the quarter. OceanaGold had a return on equity of 0.24% and a net margin of 0.10%. On average, research analysts anticipate that OceanaGold will post 0.6243902 earnings per share for the current year.

OceanaGold Increases Dividend

The firm also recently declared a Semi-Annual dividend, which will be paid on Friday, October 11th. Shareholders of record on Thursday, August 29th will be issued a $0.014 dividend. This is an increase from OceanaGold’s previous Semi-Annual dividend of $0.01. The ex-dividend date is Thursday, August 29th. OceanaGold’s dividend payout ratio is 300.00%.

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.