OceanaGold (TSE:OGC) Reaches New 12-Month High - What's Next?

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 trading on Monday . 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.

Analyst Upgrades and Downgrades

Several brokerages have commented on OGC. Raymond James Financial upgraded shares of OceanaGold to a "moderate buy" rating in a research report on Monday, June 30th. Scotiabank boosted their price target on shares of OceanaGold from C$6.50 to C$20.50 and gave the stock an "outperform" rating in a research report on Tuesday, June 24th. Finally, Royal Bank Of Canada boosted their price objective on OceanaGold from C$25.00 to C$28.00 and gave the stock an "outperform" rating in a report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of C$20.58.

OceanaGold Price Performance

The stock has a market capitalization of C$6.32 billion, a P/E ratio of 17.31 and a beta of 0.99. The stock's fifty day moving average is C$21.31 and its 200-day moving average is C$17.58.

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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