Groupe la Francaise Purchases New Position in Oceanagold Corp. $OGC

Key Points

• Groupe la Francaise acquired 780,000 OceanaGold shares in the second quarter, worth approximately $19.56 million and representing about 0.35% of the company. Several other institutional investors also initiated positions.
• Analyst sentiment remains broadly positive but mixed: OceanaGold has an average “Buy” rating, with two Strong Buy ratings, one Buy rating, and one Sell rating.
• OceanaGold beat quarterly EPS expectations, reporting $0.98 versus the $0.93 consensus estimate, while announcing a quarterly dividend of $0.09 per share, or $0.36 annualized.

Groupe la Francaise acquired a new position in shares of Oceanagold Corp. (NYSE:OGC - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 780,000 shares of the company's stock, valued at approximately $19,560,000. Groupe la Francaise owned approximately 0.35% of Oceanagold at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Bank of New York Mellon Corp acquired a new stake in Oceanagold in the second quarter valued at approximately $1,701,000. Public Employees Retirement System of Ohio acquired a new position in shares of Oceanagold during the second quarter worth $14,465,000. Nykredit A S acquired a new position in shares of Oceanagold during the second quarter worth $125,000. Finally, TD Waterhouse Canada Inc. bought a new position in shares of Oceanagold in the 2nd quarter valued at $584,000.

Analyst Ratings Changes

Several equities research analysts recently weighed in on OGC shares. Weiss Ratings downgraded Oceanagold from a "buy (b)" rating to a "buy (b-)" rating in a report on Monday, June 8th. Wall Street Zen cut Oceanagold from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 22nd. Scotiabank upgraded Oceanagold to a "strong-buy" rating in a research report on Thursday, May 14th. Zacks Research downgraded Oceanagold from a "hold" rating to a "strong sell" rating in a research report on Tuesday, July 7th. Finally, Jefferies Financial Group raised Oceanagold to a "strong-buy" rating in a research note on Tuesday, June 9th. Two investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Buy".

Oceanagold Stock Performance

Shares of NYSE OGC opened at $30.60 on Monday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.24 and a current ratio of 1.63. Oceanagold Corp. has a 52-week low of $19.00 and a 52-week high of $43.33. The company has a 50 day simple moving average of $26.66. The firm has a market cap of $6.81 billion and a PE ratio of 15.38.

Oceanagold (NYSE:OGC - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.98 earnings per share (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 firm had revenue of $647.30 million during the quarter. Analysts predict that Oceanagold Corp. will post 4.16 earnings per share for the current fiscal year.

Oceanagold Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Wednesday, August 19th will be given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Wednesday, August 19th. Oceanagold's dividend payout ratio (DPR) is currently 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.

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