OceanaGold Co. (TSE:OGC) Given Average Rating of "Buy" by Analysts

Key Points

• Analysts rate OceanaGold a "Buy" — five analysts give a consensus Buy with an average 12-month target of C$56.11, and several firms have recently raised targets (notably RBC to C$78.00).
• Shares trade at C$45.62 with a market cap of C$10.27B and a P/E of 16.96; the company reported C$1.21 EPS for the quarter, a 33.3% net margin, and has authorized a C$350.00 million buyback (about 2.9% of shares), signaling management views the stock as undervalued.

Shares of OceanaGold Co. (TSE:OGC - Get Free Report) have been given a consensus recommendation of "Buy" by the five analysts that are covering the firm, MarketBeat Ratings reports. Five research analysts have rated the stock with a buy rating. The average 12 month target price among brokers that have covered the stock in the last year is C$56.11.

OGC has been the topic of several analyst reports. Desjardins boosted their price objective on shares of OceanaGold from C$63.00 to C$65.00 and gave the stock a "buy" rating in a research note on Friday, February 20th. Royal Bank Of Canada lifted their target price on OceanaGold from C$52.00 to C$78.00 in a report on Thursday, March 12th. Canadian Imperial Bank of Commerce upped their price target on OceanaGold from C$66.00 to C$72.00 in a research report on Thursday, February 26th. TD increased their price target on OceanaGold from C$55.00 to C$56.00 and gave the company a "buy" rating in a research note on Tuesday. Finally, Jefferies Financial Group raised their price objective on OceanaGold from C$45.00 to C$53.00 in a research report on Monday, January 19th.

OceanaGold Stock Performance

Shares of OceanaGold stock traded down C$0.99 on Tuesday, hitting C$45.62. The stock had a trading volume of 461,020 shares, compared to its average volume of 878,419. The stock has a 50 day moving average of C$48.60 and a 200 day moving average of C$41.80. The firm has a market capitalization of C$10.27 billion, a P/E ratio of 16.96 and a beta of 2.46. OceanaGold has a twelve month low of C$13.86 and a twelve month high of C$59.20.

OceanaGold (TSE:OGC - Get Free Report) last posted its earnings results on Wednesday, February 18th. The company reported C$1.21 earnings per share for the quarter. OceanaGold had a net margin of 33.30% and a return on equity of 30.82%. The firm had revenue of C$870.81 million for the quarter. Equities analysts expect that OceanaGold will post 0.6283048 earnings per share for the current year.

OceanaGold announced that its board has authorized a stock buyback program on Wednesday, February 18th that permits the company to buyback $350.00 million in shares. This buyback authorization permits the company to repurchase up to 2.9% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's leadership believes its stock is undervalued.

OceanaGold Company Profile

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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