50,000 Shares of Oceanagold Corp. $OGC Purchased by U S Global Investors Inc.

Key Points

• U.S. Global Investors purchased 50,000 OceanaGold shares worth approximately $1.38 million, while several other institutional investors also established sizable new positions.
• Analyst sentiment remains generally positive, with OceanaGold holding a consensus “Buy” rating despite one downgrade to “Hold.”
• OGC shares were down 5.6%, opening at $25.26, while the company reported quarterly EPS of $0.98—beating estimates—and maintains a quarterly dividend yielding approximately 1.4%.

U S Global Investors Inc. purchased a new stake in shares of Oceanagold Corp. (NYSE:OGC - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 50,000 shares of the company's stock, valued at approximately $1,377,000.

A number of other hedge funds have also modified their holdings of OGC. Allianz Asset Management GmbH acquired a new position in Oceanagold in the second quarter valued at about $63,741,000. Ninety One UK Ltd bought a new stake in shares of Oceanagold during the 3rd quarter worth about $63,288,000. Groupe la Francaise acquired a new stake in Oceanagold in the 2nd quarter worth about $19,560,000. The Manufacturers Life Insurance Company bought a new position in Oceanagold in the second quarter valued at approximately $15,332,000. Finally, Public Employees Retirement System of Ohio bought a new position in Oceanagold in the 2nd quarter valued at approximately $14,465,000.

Analyst Ratings Changes

A number of brokerages have commented on OGC. Canadian Imperial Bank of Commerce reaffirmed an "outperform" rating on shares of Oceanagold in a research report on Friday, October 16th. Wall Street Zen downgraded shares of Oceanagold from a "buy" rating to a "hold" rating in a research report on Saturday, October 17th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Oceanagold in a research note on Friday, September 4th. Finally, Zacks Research raised Oceanagold from a "strong sell" rating to a "hold" rating in a report on Tuesday, September 8th. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Oceanagold has a consensus rating of "Buy".

Oceanagold Stock Down 5.6%

Shares of NYSE OGC opened at $25.26 on Friday. The business has a fifty day moving average price of $28.53. The company has a current ratio of 1.63, a quick ratio of 1.24 and a debt-to-equity ratio of 0.01. Oceanagold Corp. has a 52 week low of $20.18 and a 52 week high of $43.33.

Oceanagold (NYSE:OGC - Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported $0.98 earnings per share for the quarter, topping analysts' consensus estimates of $0.93 by $0.05. The company had revenue of $647.30 million during the quarter. Oceanagold had a net margin of 35.14% and a return on equity of 36.44%. Equities research analysts expect that Oceanagold Corp. will post 4.19 EPS for the current fiscal year.

Oceanagold Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 18th. Stockholders of record on Wednesday, August 19th were paid a dividend of C$0.09 per share. The ex-dividend date of this dividend was Wednesday, August 19th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.4%. Oceanagold's payout ratio is presently 18.09%.

About Oceanagold

OceanaGold Corporation is a Canadian precious-metals mining company headquartered in Vancouver, British Columbia. The company explores, develops and operates mines that produce gold and, in some operations, copper concentrates.

OceanaGold's principal assets have included the Haile Gold Mine in South Carolina, the Didipio gold-copper mine in the Philippines, and gold operations in New Zealand, including the Waihi and Macraes mines. Its operations and projects have given the company a presence across North America, Asia and Oceania.

Founded in 2003, OceanaGold has grown through the development and acquisition of producing mines and mineral projects.

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