Oceanagold Corp. (NYSE:OGC) Stock Rated "Buy" by Wall Street Analysts

Key Points

• Wall Street analysts rate OceanaGold a “Buy” on average: Of the five analysts covering the stock, two recommend buying, two strongly recommend buying, and one rates it a hold. Recent broker actions include upgrades from Zacks Research and Wall Street Zen.
• OceanaGold reported quarterly EPS of $0.98, beating estimates of $0.93, on revenue of $647.3 million. The company posted a 35.14% net margin and 36.44% return on equity.
• The stock recently traded at $26.73, with a $5.92 billion market capitalization and a 1.3% dividend yield. Several institutional investors, including Allianz Asset Management and Ninety One UK, recently established sizable positions.

Oceanagold Corp. (NYSE:OGC - Get Free Report) has received an average recommendation of "Buy" from the five research firms that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation, two have issued a buy recommendation and two have issued a strong buy recommendation on the company.

A number of brokerages have issued reports on OGC. Zacks Research raised shares of Oceanagold from a "strong sell" rating to a "hold" rating in a report on Tuesday, September 8th. Weiss Ratings restated a "buy (b-)" rating on shares of Oceanagold in a research note on Friday, September 4th. Wall Street Zen raised Oceanagold from a "hold" rating to a "buy" rating in a report on Saturday, October 3rd. Finally, Canadian Imperial Bank of Commerce reaffirmed an "outperform" rating on shares of Oceanagold in a report on Friday.

Oceanagold Stock Up 0.3%

Shares of NYSE:OGC traded up $0.08 on Friday, reaching $26.73. 100,686 shares of the company's stock were exchanged, compared to its average volume of 314,876. The business has a 50-day simple moving average of $28.74. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.63 and a quick ratio of 1.24. Oceanagold has a fifty-two week low of $20.18 and a fifty-two week high of $43.33. The company has a market cap of $5.92 billion and a price-to-earnings ratio of 13.47.

Oceanagold (NYSE:OGC - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.98 EPS for the quarter, beating the consensus estimate of $0.93 by $0.05. Oceanagold had a net margin of 35.14% and a return on equity of 36.44%. The business had revenue of $647.30 million during the quarter. Analysts predict that Oceanagold will post 4.22 earnings per share for the current fiscal year.

Oceanagold Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 18th. Investors of record on Wednesday, August 19th were given a dividend of C$0.09 per share. The ex-dividend date was Wednesday, August 19th. This represents a $0.36 dividend on an annualized basis and a yield of 1.3%. Oceanagold's payout ratio is currently 18.09%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Allianz Asset Management GmbH bought a new stake in Oceanagold in the second quarter valued at $63,741,000. Ninety One UK Ltd bought a new position in shares of Oceanagold during the third quarter worth about $63,288,000. Groupe la Francaise acquired a new stake in shares of Oceanagold in the 2nd quarter worth about $19,560,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Oceanagold in the 2nd quarter worth about $15,332,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of Oceanagold in the 2nd quarter worth about $14,465,000.

About Oceanagold

OceanaGold Corporation is a multinational mining company focused on the exploration, development and operation of gold and copper assets. Its primary products are gold and copper concentrates, which are produced through open-pit and underground mining operations.

The company operates the Haile Gold Mine in South Carolina, the Didipio gold-copper mine in the Philippines, and the Macraes and Waihi gold operations in New Zealand. It also maintains exploration and development activities intended to extend mine lives and identify additional mineral resources in the regions where it operates.

OceanaGold has a history dating to the 1990s and is headquartered in Vancouver, Canada.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.