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

Key Points

• Analysts at Royal Bank of Canada have raised OceanaGold's price target from C$28.00 to C$34.00, suggesting a potential upside of 20.82% from its current price.
• Other analysts have also boosted target prices, with Scotiabank raising theirs to C$20.50 and TD Securities to C$30.00, indicating a consensus of optimism for the stock's performance.
• OceanaGold shares increased by 3.1% during Wednesday's trading, reaching C$28.14, and the company has a market cap of C$6.50 billion.

OceanaGold (TSE:OGC - Get Free Report) had its target price lifted by research analysts at Royal Bank Of Canada from C$28.00 to C$34.00 in a note issued to investors on Wednesday,BayStreet.CA reports. Royal Bank Of Canada's price objective points to a potential upside of 21.26% from the stock's previous close.

Several other equities research analysts also recently issued reports on OGC. TD Securities upgraded OceanaGold from a "hold" rating to a "buy" rating and increased their target price for the stock from C$22.00 to C$30.00 in a research report on Monday, September 8th. Raymond James Financial upgraded shares of OceanaGold to a "moderate buy" rating in a research report on Monday, June 30th. Finally, Scotiabank boosted their price target on shares of OceanaGold from C$6.50 to C$20.50 and gave the company an "outperform" rating in a research report on Tuesday, June 24th. One analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the company's stock. Based on data from MarketBeat, OceanaGold has an average rating of "Buy" and a consensus target price of C$22.79.

OceanaGold Price Performance

Shares of TSE:OGC traded down C$0.15 during trading on Wednesday, hitting C$28.04. 1,093,977 shares of the company were exchanged, compared to its average volume of 787,002. The company has a market cap of C$6.48 billion, a PE ratio of 17.75 and a beta of 0.99. The stock has a 50 day moving average of C$22.17 and a 200 day moving average of C$18.14. OceanaGold has a 52-week low of C$10.68 and a 52-week high of C$28.44.

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.