Jefferies Financial Group Forecasts Strong Price Appreciation for OceanaGold (TSE:OGC) Stock

Key Points

• Jefferies Financial Group has raised its price target for OceanaGold (TSE:OGC) stock from C$38.00 to C$42.00, indicating a potential upside of 23.67% from the company's previous close.
• Other analysts have also increased their price targets, with Canaccord Genuity raising theirs from C$25.00 to C$36.00 and CIBC adjusting theirs from C$30.00 to C$50.00.
• OceanaGold's stock is currently down to C$33.96 after a decrease of C$2.78 during trading, with a market cap of C$7.85 billion.

OceanaGold (TSE:OGC - Get Free Report) had its price objective increased by investment analysts at Jefferies Financial Group from C$38.00 to C$42.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. Jefferies Financial Group's price target suggests a potential upside of 23.67% from the company's previous close.

Several other equities analysts have also issued reports on OGC. Canaccord Genuity Group lifted their price target on shares of OceanaGold from C$25.00 to C$36.00 in a report on Thursday, October 2nd. Scotiabank raised their price objective on OceanaGold from C$6.50 to C$20.50 and gave the stock an "outperform" rating in a research report on Tuesday, June 24th. Raymond James Financial upgraded OceanaGold to a "moderate buy" rating in a research note on Monday, June 30th. Royal Bank Of Canada increased their price target on OceanaGold from C$28.00 to C$34.00 in a research note on Wednesday, September 10th. Finally, CIBC upped their price objective on shares of OceanaGold from C$30.00 to C$50.00 in a report on Friday, October 10th. One equities research analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of C$30.03.

OceanaGold Price Performance

Shares of OGC stock traded down C$2.78 during mid-day trading on Friday, hitting C$33.96. 1,094,302 shares of the stock traded hands, compared to its average volume of 827,825. The stock has a market cap of C$7.85 billion, a P/E ratio of 21.49 and a beta of 1.33. The stock's fifty day moving average is C$27.57 and its two-hundred day moving average is C$21.07. OceanaGold has a 52-week low of C$10.68 and a 52-week high of C$37.08.

About OceanaGold

OceanaGold is a growing intermediate gold and copper producer committed to safely and responsibly maximizing the generation of Free Cash Flow from our operations and delivering strong returns for our shareholders. We have a portfolio of four operating mines: the Haile Gold Mine in the United States of America; Didipio Mine in the Philippines; and the Macraes and Waihi operations in New Zealand.

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