OceanaGold (TSE:OGC) Sets New 12-Month High Following Analyst Upgrade

Key Points

• OceanaGold's share price reached a new 52-week high of C$27.69 during trading, reflecting a growing interest in the stock with a trading volume of 105,407 shares.
• Analysts have provided positive outlooks, with Raymond James upgrading the stock to a "moderate buy" and Scotiabank raising the price target significantly to C$20.50.
• The company's market capitalization stands at C$6.32 billion, with a consensus rating of "Buy" and an average price target of C$20.58.

OceanaGold Co. (TSE:OGC - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Monday after Royal Bank Of Canada raised their price target on the stock from C$28.00 to C$34.00. The stock traded as high as C$27.69 and last traded at C$27.37, with a volume of 105407 shares. The stock had previously closed at C$26.65.

Several other research analysts have also recently issued reports on the stock. TD Securities upgraded shares of OceanaGold from a "hold" rating to a "buy" rating and increased their target price for the stock from C$22.00 to C$30.00 in a report on Monday, September 8th. Raymond James Financial upgraded shares of OceanaGold to a "moderate buy" rating in a report on Monday, June 30th. Finally, 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. One equities research 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 has a consensus rating of "Buy" and an average target price of C$22.79.

OceanaGold Price Performance

The firm has a market capitalization of C$6.52 billion, a PE ratio of 17.84 and a beta of 0.99. The company's 50-day simple moving average is C$22.17 and its 200 day simple moving average is C$18.05.

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.