OceanaGold (TSE:OGC) Hits New 12-Month High - Should You Buy?

Key Points

• OceanaGold's shares reached a new 52-week high, trading at C$32.60, and last closed at C$32.06 with a trading volume of 61,891 shares.
• Several analysts have upgraded their ratings and price targets for OceanaGold, with most indicating a "Buy" rating and an average price target of C$24.44.
• The company has a market capitalization of C$7.48 billion and operates four mines across the United States, Philippines, and New Zealand.

Shares of OceanaGold Co. (TSE:OGC - Get Free Report) reached a new 52-week high on Monday . The company traded as high as C$32.60 and last traded at C$32.06, with a volume of 61891 shares. The stock had previously closed at C$31.01.

Analyst Ratings Changes

A number of equities research analysts recently commented on OGC shares. Royal Bank Of Canada lifted their price objective on OceanaGold from C$28.00 to C$34.00 in a research note on Wednesday, September 10th. TD Securities raised OceanaGold from a "hold" rating to a "buy" rating and lifted their price objective for the stock from C$22.00 to C$30.00 in a research note on Monday, September 8th. Canaccord Genuity Group lifted their price objective on OceanaGold from C$25.00 to C$36.00 in a research note on Thursday. Raymond James Financial raised OceanaGold to a "moderate buy" rating in a research note on Monday, June 30th. Finally, Scotiabank lifted their price objective 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. One investment analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the stock. According to MarketBeat, OceanaGold currently has an average rating of "Buy" and an average price target of C$24.44.

OceanaGold Price Performance

The stock has a market capitalization of C$7.48 billion, a price-to-earnings ratio of 20.48 and a beta of 1.33. The business has a 50 day simple moving average of C$25.02 and a 200-day simple moving average of C$19.91.

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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