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

Key Points

• OceanaGold shares reached a new 52-week high of C$23.94, reflecting strong investor interest with a trading volume of 83,227 shares.
• Wall Street analysts have optimistic forecasts for OceanaGold, with price targets raised significantly, including an upgrade from C$25.00 to C$28.00 by the Royal Bank of Canada.
• The company operates four mines and focuses on safely maximizing Free Cash Flow, positioning itself as a key player in the gold and copper production sector.

OceanaGold Co. (TSE:OGC - Get Free Report) shares hit a new 52-week high on Monday . The stock traded as high as C$23.94 and last traded at C$23.92, with a volume of 83227 shares. The stock had previously closed at C$23.74.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Royal Bank Of Canada lifted 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. Raymond James Financial upgraded OceanaGold to a "moderate buy" rating in a research note on Monday, June 30th. Finally, Scotiabank raised their target price on OceanaGold from C$6.50 to C$20.50 and gave the stock an "outperform" rating in a research note on Tuesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of C$20.58.

OceanaGold Stock Performance

The stock has a market cap of C$11.84 billion, a P/E ratio of 193.25 and a beta of 1.62. The stock has a 50-day moving average price of C$20.33 and a 200-day moving average price of C$16.79.

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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