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

Key Points

• OceanaGold reached a new 52-week high of C$30.12, last trading at C$29.86 with a volume of 71,247 shares.
• Analyst upgrades include a new price target from Scotiabank of C$20.50 and TD Securities raising its target to C$30.00, contributing to a consensus rating of "Buy."
• The company's market capitalization stands at C$6.85 billion, indicating strong growth potential with significant investment in gold and copper production.

OceanaGold Co. (TSE:OGC - Get Free Report) shares reached a new 52-week high on Monday . The company traded as high as C$30.12 and last traded at C$29.86, with a volume of 71247 shares changing hands. The stock had previously closed at C$29.05.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Scotiabank increased 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, June 24th. TD Securities upgraded OceanaGold from a "hold" rating to a "buy" rating and increased their price target for the company from C$22.00 to C$30.00 in a research note on Monday, September 8th. Raymond James Financial upgraded OceanaGold to a "moderate buy" rating in a research note on Monday, June 30th. Finally, Royal Bank Of Canada increased their price target on OceanaGold from C$28.00 to C$34.00 in a research note on Wednesday, September 10th. One research analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of C$22.79.

OceanaGold Stock Performance

The company has a market capitalization of C$6.85 billion, a price-to-earnings ratio of 18.76 and a beta of 0.99. The firm has a fifty day moving average price of C$23.95 and a 200-day moving average price of C$19.29.

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.