OceanaGold (TSE:OGC) Reaches New 52-Week High - Should You Buy?

Key Points

• OceanaGold's stock reached a new 52-week high, trading at C$34.30, with a robust volume of 130,917 shares on Tuesday.
• Several analysts have upgraded their ratings for OceanaGold, with target prices now ranging from C$30.00 to C$50.00, reflecting a consensus rating of "Buy."
• The company's market capitalization stands at C$7.98 billion with a price-to-earnings ratio of 21.86, indicating strong growth potential.

OceanaGold Co. (TSE:OGC - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$34.30 and last traded at C$34.21, with a volume of 130917 shares traded. The stock had previously closed at C$33.18.

Analysts Set New Price Targets

A number of equities analysts have weighed in on OGC shares. TD Securities raised OceanaGold from a "hold" rating to a "buy" rating and boosted their price objective for the stock from C$22.00 to C$30.00 in a research note on Monday, September 8th. Royal Bank Of Canada boosted their price objective on OceanaGold from C$28.00 to C$34.00 in a research note on Wednesday, September 10th. Raymond James Financial upgraded OceanaGold to a "moderate buy" rating in a research report on Monday, June 30th. CIBC lifted their target price on OceanaGold from C$30.00 to C$50.00 in a research report on Friday. Finally, Canaccord Genuity Group lifted their target price on OceanaGold from C$25.00 to C$36.00 in a research report on Thursday, October 2nd. One equities 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 currently has a consensus rating of "Buy" and an average target price of C$28.53.

OceanaGold Stock Performance

The stock has a market capitalization of C$7.98 billion, a price-to-earnings ratio of 21.86 and a beta of 1.33. The company has a 50 day moving average of C$26.66 and a 200 day moving average of C$20.72.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.