OceanaGold (TSE:OGC) Sets New 1-Year High - Should You Buy?

Key Points

• OceanaGold shares reached a new 52-week high at C$28.42, reflecting strong market performance with a trading volume of 305,352 shares.
• Significant upgrades from analysts include a price target increase by Royal Bank of Canada from C$28.00 to C$34.00 and a shift in ratings indicating a more favorable outlook for the stock.
• Analysts broadly rate OceanaGold as a "Buy," with an average target price of C$22.79, suggesting potential for further gains.

OceanaGold Co. (TSE:OGC - Get Free Report) shares hit a new 52-week high on Monday . The company traded as high as C$28.42 and last traded at C$28.10, with a volume of 305352 shares. The stock had previously closed at C$28.19.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Royal Bank Of Canada boosted their price objective on shares of OceanaGold from C$28.00 to C$34.00 in a report on Wednesday, September 10th. Raymond James Financial upgraded shares of OceanaGold to a "moderate buy" rating in a report on Monday, June 30th. TD Securities raised shares of OceanaGold from a "hold" rating to a "buy" rating and lifted their target price for the stock from C$22.00 to C$30.00 in a research note on Monday, September 8th. Finally, Scotiabank lifted their target price on shares of 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 investment analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of C$22.79.

OceanaGold Stock Performance

The stock's 50-day simple moving average is C$22.33 and its 200-day simple moving average is C$18.25. The firm has a market capitalization of C$6.48 billion, a PE ratio of 17.75 and a beta of 0.99.

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.

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