OceanaGold (TSE:OGC) Raised to Buy at 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 investment analysts at TD Securities from a "hold" rating to a "buy" rating in a research note issued to investors on Monday,BayStreet.CA reports. The brokerage presently has a C$30.00 price target on the stock, up from their previous price target of C$22.00. TD Securities' target price would suggest a potential upside of 9.21% from the stock's previous close.

A number of other research analysts have also recently issued reports on OGC. Royal Bank Of Canada lifted their target price on OceanaGold from C$25.00 to C$28.00 and gave the company an "outperform" rating in a research report on Friday, August 8th. Scotiabank lifted their price target on OceanaGold from C$6.50 to C$20.50 and gave the company an "outperform" rating in a research report on Tuesday, June 24th. Finally, Raymond James Financial raised OceanaGold to a "moderate buy" rating in a report on Monday, June 30th. 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, the stock presently has a consensus rating of "Buy" and an average target price of C$21.93.

OceanaGold Trading Up 3.1%

Shares of OceanaGold stock traded up C$0.82 during trading on Monday, reaching C$27.47. The company's stock had a trading volume of 295,930 shares, compared to its average volume of 782,894. The stock has a market capitalization of C$6.35 billion, a P/E ratio of 17.39 and a beta of 0.99. The stock has a 50-day moving average price of C$21.31 and a two-hundred day moving average price of C$17.58. OceanaGold has a one year low of C$10.11 and a one year high of C$27.69.

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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