OceanaGold (TSE:OGC) Price Target Raised to C$6.00 at Royal Bank of Canada

OceanaGold (TSE:OGC) had its price objective raised by investment analysts at Royal Bank of Canada from C$5.50 to C$6.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. Royal Bank of Canada’s price objective would indicate a potential upside of 35.75% from the stock’s previous close.

OGC has been the topic of a number of other reports. National Bankshares decreased their price objective on shares of OceanaGold from C$6.00 to C$5.50 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. CIBC upped their price target on OceanaGold from C$4.50 to C$6.00 in a research note on Monday. Finally, Scotiabank boosted their target price on shares of OceanaGold from C$4.75 to C$6.00 in a research report on Thursday, November 21st. 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 data from MarketBeat.com, OceanaGold currently has an average rating of “Buy” and an average price target of C$5.13.

OceanaGold Price Performance

Shares of OGC stock traded down C$0.02 on Friday, hitting C$4.42. The company’s stock had a trading volume of 359,514 shares, compared to its average volume of 1,475,047. The firm’s fifty day moving average price is C$4.03 and its 200-day moving average price is C$3.60. OceanaGold has a fifty-two week low of C$2.08 and a fifty-two week high of C$4.57. The stock has a market capitalization of C$3.14 billion, a price-to-earnings ratio of 442.00 and a beta of 1.62.

OceanaGold (TSE:OGC) last posted its quarterly earnings data on Wednesday, November 6th. The company reported C$0.12 earnings per share for the quarter, missing the consensus estimate of C$0.14 by C($0.02). OceanaGold had a net margin of 0.10% and a return on equity of 0.24%. The company had revenue of C$470.93 million during the quarter. Analysts predict that OceanaGold will post 0.6283048 EPS for the current fiscal year.

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.