Oceanagold (NYSE:OGC) Rating Lowered to Buy at Wall Street Zen

Key Points

• Wall Street Zen downgraded OceanaGold from “strong buy” to “buy,” although the overall analyst consensus remains “Buy,” with ratings ranging from Strong Buy to Sell.
• OceanaGold reported quarterly EPS of $0.98, beating the $0.93 consensus estimate, on revenue of $647.3 million. The company posted a 35.14% net margin and 36.44% return on equity.
• OGC shares opened at $31.03, giving the company a market capitalization of approximately $6.9 billion; the stock has traded between $16.50 and $43.33 over the past year.

Oceanagold (NYSE:OGC - Get Free Report) was downgraded by Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research note issued to investors on Saturday.

Several other equities research analysts have also weighed in on OGC. Scotiabank raised Oceanagold to a "strong-buy" rating in a research report on Thursday, May 14th. Zacks Research downgraded Oceanagold from a "hold" rating to a "strong sell" rating in a report on Tuesday, July 7th. Jefferies Financial Group upgraded shares of Oceanagold to a "strong-buy" rating in a research note on Tuesday, June 9th. Finally, Weiss Ratings downgraded shares of Oceanagold from a "buy (b)" rating to a "buy (b-)" rating in a research report on Monday, June 8th. Two research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy".

Oceanagold Trading Up 1.0%

Shares of OGC stock opened at $31.03 on Friday. The firm has a market capitalization of $6.90 billion and a P/E ratio of 15.59. The stock's fifty day moving average price is $25.85. The company has a current ratio of 1.63, a quick ratio of 1.24 and a debt-to-equity ratio of 0.01. Oceanagold has a 12 month low of $16.50 and a 12 month high of $43.33.

Oceanagold (NYSE:OGC - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.98 earnings per share for the quarter, beating analysts' consensus estimates of $0.93 by $0.05. The company had revenue of $647.30 million for the quarter. Oceanagold had a return on equity of 36.44% and a net margin of 35.14%. On average, equities analysts forecast that Oceanagold will post 4.11 EPS for the current year.

Institutional Investors Weigh In On Oceanagold

Several large investors have recently modified their holdings of the stock. Nykredit A S acquired a new stake in shares of Oceanagold during the second quarter worth $125,000. TD Waterhouse Canada Inc. acquired a new position in Oceanagold in the 2nd quarter valued at $584,000. Bank of New York Mellon Corp acquired a new position in Oceanagold in the 2nd quarter valued at $1,701,000. Finally, Public Employees Retirement System of Ohio purchased a new position in Oceanagold during the 2nd quarter worth $14,465,000.

About Oceanagold

OceanaGold Corporation is a gold and copper mining company that explores for, develops, and operates precious metals projects. The company's portfolio includes producing mines and development assets, with a focus on the extraction and processing of gold and copper from its owned and operated operations.

Founded in 1989, OceanaGold has built a business centered on long-life mineral assets and responsible mining practices. Its operations have historically been located in the Asia-Pacific region, including New Zealand, the Philippines, and the United States, giving it exposure to several established mining jurisdictions.

The company is headquartered in Vancouver, Canada.

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