Royal Bank Of Canada Forecasts Strong Price Appreciation for OceanaGold (TSE:OGC) Stock

Key Points

• Royal Bank of Canada has increased its price target for OceanaGold (TSE:OGC) from C$25.00 to C$28.00, indicating a potential upside of 22.65% from its previous close.
• The stock has received multiple favorable ratings, including an "outperform" from RBC and a "moderate buy" from Raymond James, reflecting growing confidence among analysts.
• OceanaGold's stock recently traded at C$22.83, having seen a 12-month low of C$9.63 and a high of C$22.87, with a market cap of approximately C$11.34 billion.

OceanaGold (TSE:OGC - Free Report) had its target price raised by Royal Bank Of Canada from C$25.00 to C$28.00 in a report published on Friday morning,BayStreet.CA reports. Royal Bank Of Canada currently has an outperform rating on the stock.

OGC has been the topic of several other research reports. Raymond James Financial upgraded shares of OceanaGold to a "moderate buy" rating in a research report on Monday, June 30th. Scotiabank upped their price objective 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 equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, OceanaGold has a consensus rating of "Buy" and a consensus target price of C$20.58.

OceanaGold Stock Up 0.2%

Shares of OceanaGold stock traded up C$0.04 during trading on Friday, hitting C$22.70. 148,243 shares of the stock traded hands, compared to its average volume of 755,753. The stock has a market cap of C$11.28 billion, a price-to-earnings ratio of 184.09 and a beta of 1.62. The firm's fifty day moving average is C$19.73 and its 200-day moving average is C$16.15. OceanaGold has a 52 week low of C$9.99 and a 52 week high of C$22.87.

Insider Transactions at OceanaGold

In other news, Director Ian Macnevin Reid acquired 8,666 shares of OceanaGold stock in a transaction dated Thursday, May 15th. The shares were acquired at an average cost of C$16.89 per share, for a total transaction of C$146,368.74. 0.15% of the stock is currently owned by company insiders.

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.