OceanaGold Co. (TSE:OGC) Given Consensus Recommendation of "Buy" by 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 brokerages that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is C$20.58.

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

OceanaGold Stock Down 0.3%

Shares of TSE OGC traded down C$0.08 during trading on Friday, reaching C$22.87. The company had a trading volume of 213,574 shares, compared to its average volume of 763,703. The company's fifty day moving average price is C$19.87 and its 200-day moving average price is C$16.27. OceanaGold has a 12 month low of C$9.99 and a 12 month high of C$23.34. The stock has a market cap of C$11.36 billion, a P/E ratio of 185.47 and a beta of 1.62.

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.