OceanaGold (TSE:OGC) Reaches New 12-Month High - Here's What Happened

Key Points

• OceanaGold Co. reached a new 52-week high of C$28.62 during trading, closing at C$28.59 with a volume of 103,222 shares.
• Recent analyst ratings have been positive, with Royal Bank Of Canada raising their price target to C$34.00 and TD Securities upgraded the stock to a "buy" rating.
• The company has a market capitalization of C$6.69 billion and a current PE ratio of 18.31, indicating strong financial health.

OceanaGold Co. (TSE:OGC - Get Free Report)'s stock price reached a new 52-week high during trading on Monday . The company traded as high as C$28.62 and last traded at C$28.59, with a volume of 103222 shares. The stock had previously closed at C$27.68.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on OGC shares. Scotiabank lifted their price objective on shares of OceanaGold from C$6.50 to C$20.50 and gave the company an "outperform" rating in a report on Tuesday, June 24th. Raymond James Financial upgraded shares of OceanaGold to a "moderate buy" rating in a report on Monday, June 30th. TD Securities upgraded shares of OceanaGold from a "hold" rating to a "buy" rating and lifted their price objective for the company from C$22.00 to C$30.00 in a report on Monday, September 8th. Finally, Royal Bank Of Canada lifted their price objective on shares of OceanaGold from C$28.00 to C$34.00 in a report on Wednesday, September 10th. One research analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of C$22.79.

OceanaGold Stock Up 5.7%

The firm has a market cap of C$6.76 billion, a P/E ratio of 18.51 and a beta of 0.99. The firm's 50-day simple moving average is C$23.16 and its 200 day simple moving average is C$18.81.

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.