OceanaGold (TSE:OGC) Sets New 52-Week High - Still a Buy?

Key Points

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Shares of OceanaGold Co. (TSE:OGC - Get Free Report) hit a new 52-week high during trading on Tuesday . The stock traded as high as C$23.61 and last traded at C$23.52, with a volume of 659597 shares traded. The stock had previously closed at C$23.42.

Wall Street Analyst Weigh In

Several analysts have commented on OGC shares. Raymond James Financial raised shares of OceanaGold to a "moderate buy" rating in a research report on Monday, June 30th. Scotiabank lifted their price objective on shares of OceanaGold from C$6.50 to C$20.50 and gave the stock an "outperform" rating in a research report on Tuesday, June 24th. Finally, Royal Bank Of Canada lifted their price objective on shares of OceanaGold from C$25.00 to C$28.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of C$20.58.

OceanaGold Stock Up 2.6%

The firm's 50-day moving average price is C$20.33 and its 200-day moving average price is C$16.79. The company has a market cap of C$11.79 billion, a P/E ratio of 192.52 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.