Bank of New York Mellon Corp Takes $1.70 Million Position in Oceanagold Corp. $OGC

Key Points

• Bank of New York Mellon acquired 67,805 shares of OceanaGold worth approximately $1.70 million during the second quarter.
• Analyst sentiment is mixed but remains favorable overall: OceanaGold has an average “Buy” rating, with two Strong Buy ratings, one Buy, and one Sell.
• OceanaGold beat quarterly earnings expectations, reporting $0.98 in EPS versus the $0.93 consensus, and declared a quarterly dividend of $0.09 per share, yielding about 1.2% annually.

Bank of New York Mellon Corp purchased a new stake in shares of Oceanagold Corp. (NYSE:OGC - Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 67,805 shares of the company's stock, valued at approximately $1,701,000.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Zacks Research downgraded Oceanagold from a "hold" rating to a "strong sell" rating in a research note on Tuesday, July 7th. Scotiabank upgraded Oceanagold to a "strong-buy" rating in a research note on Thursday, May 14th. Wall Street Zen downgraded shares of Oceanagold from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 22nd. Jefferies Financial Group upgraded shares of Oceanagold to a "strong-buy" rating in a research report on Tuesday, June 9th. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of Oceanagold in a report on Friday. Two analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Oceanagold has an average rating of "Buy".

Oceanagold Trading Down 1.2%

NYSE:OGC opened at $30.24 on Wednesday. Oceanagold Corp. has a 12 month low of $19.33 and a 12 month high of $43.33. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.63 and a quick ratio of 1.24. The business has a 50 day moving average of $26.87. The company has a market cap of $6.73 billion and a PE ratio of 15.20.

Oceanagold (NYSE:OGC - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.05. Oceanagold had a return on equity of 36.44% and a net margin of 35.14%.The business had revenue of $647.30 million during the quarter. Research analysts predict that Oceanagold Corp. will post 4.16 earnings per share for the current year.

Oceanagold Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Wednesday, August 19th will be paid a dividend of $0.09 per share. The ex-dividend date is Wednesday, August 19th. This represents a $0.36 annualized dividend and a dividend yield of 1.2%. Oceanagold's dividend payout ratio is presently 18.09%.

About Oceanagold

OceanaGold Corporation is a gold and copper mining company that explores for, develops, and operates precious metals projects. The company's portfolio includes producing mines and development assets, with a focus on the extraction and processing of gold and copper from its owned and operated operations.

Founded in 1989, OceanaGold has built a business centered on long-life mineral assets and responsible mining practices. Its operations have historically been located in the Asia-Pacific region, including New Zealand, the Philippines, and the United States, giving it exposure to several established mining jurisdictions.

The company is headquartered in Vancouver, Canada.

Want to see what other hedge funds are holding OGC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Oceanagold Corp. (NYSE:OGC - Free Report).

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.