OceanaGold (TSE:OGC) Price Target Raised to C$24.00

OceanaGold (TSE:OGC - Get Free Report) had its target price raised by equities researchers at Raymond James Financial from C$6.50 to C$24.00 in a research note issued on Tuesday,BayStreet.CA reports. The brokerage currently has an "outperform" rating on the stock. Raymond James Financial's target price would suggest a potential upside of 22.32% from the company's previous close.

Several other research analysts have also issued reports on the company. TD Securities lowered OceanaGold from a "strong-buy" rating to a "hold" rating in a research note on Thursday, February 27th. Scotiabank raised their target price on OceanaGold from C$6.50 to C$20.50 and gave the company an "outperform" rating in a research note on Tuesday. Royal Bank Of Canada raised their target price on OceanaGold from C$21.00 to C$24.00 in a research note on Tuesday, June 3rd. Finally, National Bank Financial upgraded OceanaGold to a "strong-buy" rating in a research note on Friday, March 21st. One research analyst has rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of C$18.61.

OceanaGold Stock Up 1.6%

OceanaGold stock traded up C$0.30 during mid-day trading on Tuesday, hitting C$19.62. 517,335 shares of the company were exchanged, compared to its average volume of 747,935. The business has a fifty day moving average of C$17.60 and a 200 day moving average of C$14.43. OceanaGold has a 1-year low of C$8.94 and a 1-year high of C$21.21. The company has a market capitalization of C$9.75 billion, a PE ratio of 159.11 and a beta of 1.62.

Insider Activity

In other news, Director Ian Macnevin Reid acquired 8,666 shares of the stock in a transaction that occurred on Thursday, May 15th. The stock was purchased 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 corporate insiders.

About OceanaGold

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.