OceanaGold (TSE:OGC) Reaches New 1-Year High - Here's Why

Key Points

• OceanaGold achieved a new 52-week high, reaching C$25.69 during trading, with the stock last seen at C$25.32.
• Analysts have raised OceanaGold's price targets, with Royal Bank Of Canada increasing it to C$28.00 and Scotiabank to C$20.50, reflecting a generally positive outlook on the stock.
• The company has a market cap of C$5.95 billion, with a P/E ratio of 16.29 and a beta of 0.91, indicating its growth potential and stability in the market.

OceanaGold Co. (TSE:OGC - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$25.69 and last traded at C$25.32, with a volume of 102986 shares trading hands. The stock had previously closed at C$25.10.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on OGC shares. Raymond James Financial upgraded OceanaGold to a "moderate buy" rating in a research report on Monday, June 30th. Royal Bank Of Canada upped their price target on shares of OceanaGold from C$25.00 to C$28.00 and gave the stock an "outperform" rating in a report on Friday, August 8th. Finally, Scotiabank upped their price target 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. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Buy" and an average price target of C$20.58.

OceanaGold Price Performance

The firm has a market capitalization of C$6.16 billion, a price-to-earnings ratio of 16.87 and a beta of 0.99. The stock has a fifty day moving average of C$21.31 and a two-hundred day moving average of C$17.55.

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.