OceanaGold Co. (TSE:OGC) Receives C$20.58 Average Price Target from Analysts

Key Points

• OceanaGold Co. (TSE:OGC) has received an average rating of "Buy" from five brokerages, with one hold, three buy, and one strong buy recommendation.
• The average 12-month target price for the stock is C$20.58, with recent upgrades from analysts raising target prices significantly.
• Insider Director Ian Macnevin Reid recently acquired 8,666 shares at an average price of C$16.89, indicating confidence in the company's outlook.

OceanaGold Co. (TSE:OGC - Get Free Report) has been given a consensus rating of "Buy" by the five research firms that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is C$20.58.

A number of research firms recently issued reports on OGC. Royal Bank Of Canada lifted their target price on OceanaGold from C$25.00 to C$28.00 and gave the company an "outperform" rating in a report on Friday, August 8th. Raymond James Financial raised OceanaGold to a "moderate buy" rating in a research note on Monday, June 30th. Finally, Scotiabank upped their price objective on OceanaGold from C$6.50 to C$20.50 and gave the company an "outperform" rating in a research note on Tuesday, June 24th.

Insider Buying and Selling

In other news, Director Ian Macnevin Reid purchased 8,666 shares of the firm's stock in a transaction that occurred on Thursday, May 15th. The stock was acquired at an average cost of C$16.89 per share, for a total transaction of C$146,368.74. Company insiders own 0.15% of the company's stock.

OceanaGold Trading Up 0.7%

OGC stock traded up C$0.16 during midday trading on Friday, hitting C$23.02. 801,368 shares of the company's stock were exchanged, compared to its average volume of 763,895. OceanaGold has a 1-year low of C$9.99 and a 1-year high of C$23.34. The business has a 50-day simple moving average of C$19.80 and a two-hundred day simple moving average of C$16.22. The stock has a market capitalization of C$11.44 billion, a PE ratio of 186.68 and a beta of 1.62.

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.