OceanaGold (TSE:OGC) Stock Rating Upgraded by TD Securities

Key Points

• OceanaGold's stock has been upgraded from a "hold" to a "buy" rating by TD Securities, with a new price target of C$30.00, indicating a potential upside of 9.21%.
• Other analysts have also raised their target prices for OceanaGold, leading to an overall consensus rating of "Buy" with an average target price of C$21.93.
• OceanaGold shares rose by 3.1% to C$27.47, with a market capitalization of C$6.35 billion and a noted P/E ratio of 17.39.

OceanaGold (TSE:OGC - Get Free Report) was upgraded by equities research analysts at TD Securities from a "hold" rating to a "buy" rating in a research report issued on Monday, MarketBeat Ratings reports. The firm presently has a C$30.00 price target on the stock, up from their previous price target of C$22.00. TD Securities' price target suggests a potential upside of 6.42% from the stock's current price.

OGC has been the topic of a number of other reports. Scotiabank upped their price target 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. Royal Bank Of Canada upped their price target on OceanaGold from C$25.00 to C$28.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. Finally, Raymond James Financial raised OceanaGold to a "moderate buy" rating in a research note on Monday, June 30th. One research analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of C$22.79.

OceanaGold Price Performance

Shares of OGC remained flat at C$28.19 during trading hours on Monday. The stock had a trading volume of 854,356 shares, compared to its average volume of 785,258. OceanaGold has a 12 month low of C$10.68 and a 12 month high of C$28.44. The firm has a market cap of C$6.52 billion, a price-to-earnings ratio of 17.84 and a beta of 0.99. The business's fifty day moving average is C$22.17 and its 200 day moving average is C$18.05.

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.