OceanaGold (TSE:OGC) Sets New 1-Year High - Still a Buy?

Shares of OceanaGold Co. (TSE:OGC - Get Free Report) hit a new 52-week high during trading on Monday . The stock traded as high as C$20.74 and last traded at C$20.44, with a volume of 303659 shares trading hands. The stock had previously closed at C$6.81.

Wall Street Analyst Weigh In

OGC has been the topic of several recent analyst reports. TD Securities lowered OceanaGold from a "strong-buy" rating to a "hold" rating in a research note on Thursday, February 27th. Raymond James Financial boosted their price target on OceanaGold from C$6.50 to C$24.00 and gave the company an "outperform" rating in a research note on Tuesday. National Bank Financial raised OceanaGold to a "strong-buy" rating in a research note on Friday, March 21st. Scotiabank boosted their price target on OceanaGold from C$6.50 to C$20.50 and gave the company an "outperform" rating in a research note on Tuesday. Finally, Royal Bank Of Canada boosted their price objective on OceanaGold from C$21.00 to C$24.00 in a research note on Tuesday, June 3rd. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, OceanaGold has an average rating of "Buy" and a consensus price target of C$18.61.

OceanaGold Price Performance

The company has a market cap of C$9.78 billion, a price-to-earnings ratio of 159.60 and a beta of 1.62. The business has a 50 day simple moving average of C$17.68 and a 200 day simple moving average of C$14.47.

Insider Transactions at OceanaGold

In related news, Director Ian Macnevin Reid acquired 8,666 shares of the company's stock in a transaction that occurred on Thursday, May 15th. The stock was acquired at an average price of C$16.89 per share, for a total transaction of C$146,368.74. 0.15% of the stock is currently owned by corporate insiders.

OceanaGold Company Profile

OceanaGold Corporation, a gold and copper producer, engages in exploration, development, and operation of mineral properties in the United States, the Philippines, and New Zealand. It explores for gold, copper, and silver deposits. OceanaGold Corporation was founded in 2003 and is based in Vancouver, Canada.