OceanaGold (TSE:OGC) Price Target Raised to C$36.00 at Canaccord Genuity Group

Key Points

• The investment analysts at Canaccord Genuity Group raised OceanaGold's target price from C$25.00 to C$36.00, reflecting a potential upside of 17.96% from its current price.
• Other analysts have also issued positive reports, with Scotiabank increasing their target price to C$20.50 and TD Securities raising theirs to C$30.00, indicating a strong market confidence in the stock.
• Despite a recent trading decline of 1.2%, OceanaGold is experiencing a favorable overall sentiment, evidenced by a consensus rating of "Buy" among investment analysts.

OceanaGold (TSE:OGC - Get Free Report) had its target price raised by investment analysts at Canaccord Genuity Group from C$25.00 to C$36.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. Canaccord Genuity Group's price objective would indicate a potential upside of 17.96% from the company's current price.

OGC has been the topic of a number of other reports. Scotiabank increased their target price on shares of OceanaGold from C$6.50 to C$20.50 and gave the stock an "outperform" rating in a report on Tuesday, June 24th. Raymond James Financial raised OceanaGold to a "moderate buy" rating in a research report on Monday, June 30th. TD Securities upgraded OceanaGold from a "hold" rating to a "buy" rating and lifted their target price for the stock from C$22.00 to C$30.00 in a research report on Monday, September 8th. Finally, Royal Bank Of Canada lifted their price target on OceanaGold from C$28.00 to C$34.00 in a research report on Wednesday, September 10th. One investment analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the company's stock. Based on data from MarketBeat, OceanaGold has a consensus rating of "Buy" and a consensus price target of C$24.44.

OceanaGold Trading Down 1.2%

OGC traded down C$0.38 during mid-day trading on Thursday, hitting C$30.52. 443,016 shares of the stock were exchanged, compared to its average volume of 820,813. The company has a market cap of C$7.05 billion, a PE ratio of 19.32 and a beta of 0.99. OceanaGold has a 1-year low of C$10.68 and a 1-year high of C$31.41. The firm's fifty day moving average is C$24.58 and its two-hundred day moving average is C$19.62.

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.

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