The Manufacturers Life Insurance Company Takes $15.33 Million Position in Oceanagold Corp. $OGC

Key Points

• The Manufacturers Life Insurance Company acquired 612,881 OceanaGold shares worth approximately $15.33 million, representing about 0.28% of the company.
• OceanaGold reported quarterly EPS of $0.98, exceeding analyst expectations of $0.93, on revenue of $647.3 million; analysts expect full-year EPS of $4.17.
• The company declared a quarterly dividend of $0.09 per share, equivalent to a 1.2% annualized yield, while analysts maintain a consensus “Buy” rating.

The Manufacturers Life Insurance Company purchased a new stake in Oceanagold Corp. (NYSE:OGC - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 612,881 shares of the company's stock, valued at approximately $15,332,000. The Manufacturers Life Insurance Company owned about 0.28% of Oceanagold at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Nykredit A S purchased a new position in Oceanagold during the 2nd quarter worth $125,000. Engineers Gate Manager LP purchased a new stake in shares of Oceanagold in the second quarter valued at about $337,000. Tidal Investments LLC acquired a new stake in shares of Oceanagold during the second quarter worth about $355,000. TD Waterhouse Canada Inc. purchased a new position in shares of Oceanagold during the second quarter worth about $584,000. Finally, Sequoia Financial Advisors LLC acquired a new position in Oceanagold in the 2nd quarter valued at about $603,000.

Oceanagold Stock Up 0.6%

Shares of Oceanagold stock opened at $30.20 on Friday. Oceanagold Corp. has a 52-week low of $19.33 and a 52-week high of $43.33. The company has a current ratio of 1.63, a quick ratio of 1.24 and a debt-to-equity ratio of 0.01. The business's 50-day moving average price is $27.15. The firm has a market capitalization of $6.72 billion and a price-to-earnings ratio of 15.17.

Oceanagold (NYSE:OGC - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.98 EPS for the quarter, beating analysts' consensus estimates 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. Equities research analysts anticipate that Oceanagold Corp. will post 4.17 EPS for the current year.

Oceanagold Dividend Announcement

The firm also recently announced 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. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Wednesday, August 19th. Oceanagold's dividend payout ratio is 18.09%.

Analyst Upgrades and Downgrades

OGC has been the subject of several analyst reports. Zacks Research raised Oceanagold from a "strong sell" rating to a "hold" rating in a research note on Tuesday, September 8th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Oceanagold in a research note on Friday, September 4th. Jefferies Financial Group raised Oceanagold to a "strong-buy" rating in a report on Tuesday, June 9th. Finally, Wall Street Zen cut Oceanagold from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 22nd. Two research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy".

Oceanagold Profile

OceanaGold Corporation is a mid-tier gold producer headquartered in Vancouver, Canada. The company explores for, develops and operates gold and copper-gold properties, with operations spanning North America, the Asia-Pacific region and Oceania. Its products primarily include gold, with silver and copper produced as byproducts at certain operations.

OceanaGold's operating portfolio includes the Haile Gold Mine in South Carolina, the Didipio gold-copper mine in the Philippines, and the Macraes and Waihi operations in New Zealand.

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.